In a medium bowl, mix together the jello and boiling water; stir until jello is dissolved. Or, use the “speed set” directions on the package with ice cubes. Allow to start setting up; keep in the fridge.
Meanwhile, in a separate large bowl, beat cream cheese until smooth. Add in the cool whip and beat until smooth.
After the jello has set, with a spatula, scrape it into the cream cheese and cool whip mixture and beat until creamy and smooth. It will be pretty pink!
Drain the fruit cocktail; pour into the jello mixture. With a spoon, gently mix together. Immediately pour into your serving bowl; place plastic wrap over the top and refrigerate. Let chill for 2-3 hours before serving.
If desired, top the jello salad with more whipped cream and sliced strawberries.