In a large bowl, combine the whipped topping and cream of coconut until well blended. Add the crushed pineapple, cherries, and coconut.
Spoon into the baking cups, cover, and freeze for at least 3 hours before serving.
Garnishing Tip:
These treats have a tropical taste, so why not make 'em look tropical, too? Before freezing, sprinkle each one with toasted flaked coconut and top with a whole cherry. Then, before serving, top each with a paper umbrella.