Line a large baking tray with parchment, wax paper, or a silicone mat and set aside.

Arrange the maraschino cherries on a paper towel-lined plate to remove excess moisture.

In a small bowl, combine the confectioner’s sugar, softened butter, corn syrup, and vanilla extract. Knead the mixture until it forms a soft, sticky dough.

Portion the fondant dough into 25 mounds. Dust your hands with confectioner’s sugar to prevent sticking. Flatten each mound, place a cherry in the center, then wrap the fondant around the cherry, rolling it into a smooth ball.

Arrange the fondant-wrapped cherries on the prepared tray and freeze for 20 minutes.

Melt or temper your chocolate coating according to package instructions until smooth.

Using an enrobing fork or kitchen fork, dip each fondant-wrapped cherry into the melted chocolate until completely covered.

Decorate with additional melted chocolate or festive sprinkles if desired.

Arrange the chocolate-covered cherries in a single layer in an airtight container and let them sit at room temperature for at least 1 week for flavors to meld.

Store in an airtight container at room temperature for up to 1 month.