Begin by thoroughly draining the pineapple chunks and maraschino cherries to remove excess juice. Let them sit for about 5 minutes until completely drained.

In a mixing bowl, mash the drained pineapple and cherries until finely chopped, ensuring even distribution throughout the dip.

In another bowl, add the softened cream cheese, sour cream, and powdered sugar. Blend until the mixture is smooth and free of lumps.

Add the mashed fruit mixture to the creamy blend and mix on low speed until fully combined.

Gently fold in the drained mandarin oranges using a spatula, mixing until they are evenly incorporated.

Melt the bright pink candy melts in a microwave-safe bowl in 10-20 second intervals, stirring after each until smooth.

Let the melted candy cool slightly, then mix it into the fruit dip until fully integrated.

Transfer the dip to a serving bowl, cover with plastic wrap, and chill in the refrigerator for at least 30 minutes.