In a large bowl, using an electric hand mixer, beat the softened butter, vanilla, and sweetened condensed milk until smooth and creamy.

Add the confectioners’ sugar, beating until well combined.

Add the coconut, cherries, and pecans, beat on low until just combined.

Cover the bowl and refrigerate for at least 2 hours or overnight to firm up the mixture.

Line two rimmed baking sheets with parchment paper and set aside.

Scoop 1-1/2 tablespoonfuls of candy filling and roll into balls.

Place the formed balls onto the prepared sheets and place back into the refrigerator until ready to dip in chocolate.

Working in two batches, place 3 cups chocolate chips and 1 ½ teaspoons shortening in a microwave-safe bowl.

Heat the chocolate chips/shortening in 30-second increments, stirring between each increment until chips are melted.

Use a fork to dip and roll each candy ball into the melted chocolate.

Lift from the chocolate, tap to remove excess chocolate, and place back on the sheet of paper to set.

When you run out of chocolate, repeat step 5 and continue dipping the remaining balls.

Dipped candies can be placed back into the refrigerator to set more quickly if desired.