Whip the base: Beat cream cheese in a large bowl until smooth and creamy. Add sugar and vanilla extract and continue mixing until the mixture becomes light, fluffy, and free of lumps. This creates the cheesecake-like foundation of your salad.
Make it dreamy: Gently fold in the strawberry banana yogurt using a spatula, being careful not to deflate the creamy mixture. Then incorporate the whipped topping until fully combined, maintaining a light and airy texture. Place the bowl in the refrigerator and chill for 30 minutes to allow the flavors to meld and the mixture to set.
Add the fruit: Just before you're ready to serve, gently fold in 3½ cups of the quartered strawberries and 2 cups of the sliced bananas. Mix just enough to distribute the fruit throughout the creamy base without crushing them or making the mixture too runny.
Finish pretty: Transfer the salad to a serving bowl and arrange the reserved ½ cup each of strawberries and bananas on top for an attractive presentation. Serve immediately to enjoy the freshest flavor and best texture.