Cream together cream cheese, butter, powdered sugar, and vanilla until fluffy and smooth. Fold in raspberry jam and raspberries, so that a gentle ripple forms.
Pour mixture out onto a piece of plastic wrap, and shape into a ball, twisting the plastic to hold its shape. Place in the fridge for 2 hours to set.
Remove from plastic wrap, and roll into heart sprinkles before transferring onto platter. Garnish with extra raspberries and serve alongside graham crackers and vanilla wafer cookies for dipping.