In a mixing bowl, combine softened cream cheese, granulated sugar, vanilla extract, and crushed cotton candy. Use a hand mixer to blend until smooth and creamy, about 2-3 minutes. Cover with plastic wrap and refrigerate for 30 minutes.

In a separate bowl, mix together graham cracker crumbs, all-purpose flour, baking powder, and salt until evenly distributed. Gradually add in the large eggs, mixing with a spatula until a soft dough forms, about 3-5 minutes.

On a floured surface, take a piece of dough, flatten into a disc about 2 inches wide. Place a spoonful of cheesecake filling in the center, fold the dough over the filling to encase it. Pinch the edges to seal and roll into a ball.

Freeze the formed balls on a baking sheet lined with parchment paper for 15 minutes to prevent leakage during frying.

Heat vegetable or canola oil in a heavy-bottomed pot to 350°F (175°C). Use a thermometer for precision.

Lower the frozen cheesecake bombs into the hot oil in batches, fry for 2-3 minutes until golden. Use a slotted spoon to remove them and drain on paper towels.

Melt cotton candy-flavored candy melts following package instructions until smooth. Dip each fried bomb into the melted candy, ensuring complete coating.

Sprinkle additional crushed cotton candy on top after coating has hardened. Serve the Crispy Cotton Candy Cheesecake Bombs on a platter.