Open the fruit cocktail and drain the syrup by pouring it on a colander. Let the liquid drain totally (around 30 minutes).
Arrange the drained fruit cocktail in a mixing bowl. Add the table cream, condensed milk, and maraschino cherries.
Gently fold the mixture until all the ingredients are well distributed. Cover the mixing bowl with sling wrap then refrigerate overnight.
Remove from the fridge and transfer to a serving bowl.
Serve. Share and enjoy!