In a large bowl, combine the softened cream cheese, powdered sugar, and vanilla extract. Whisk until smooth and well combined, breaking up any lumps in the cream cheese. Gently fold in the stabilized whipped topping until fully incorporated and no streaks remain. This creates a light, mousse-like base that will coat all the fruit beautifully.
While the creamy base is being made, prepare all the fresh fruit to prevent browning and ensure even texture. Slice the banana and toss it immediately with the lemon juice to prevent oxidation. Dice both apples (you can leave the skin on for color and texture). Halve the fresh strawberries and seedless grapes. I like to drain the canned fruits very well in a fine mesh strainer—excess liquid will make the salad watery and dilute the flavors.
Add all the prepared fresh fruit and drained canned fruits to the creamy base from Step 1. Gently fold everything together until all fruit is evenly coated with the cream cheese mixture. Fold in the toasted pecans last so they stay crispy and don't get soggy. I recommend using a rubber spatula and a gentle hand—you want to fold just until everything is combined without crushing the delicate fruit.
Transfer the fruit salad to a serving bowl or individual serving cups. Refrigerate for at least 30 minutes before serving to allow the flavors to meld and the salad to set slightly. Serve chilled as a dessert or side dish.