Beat cream cheese with sugar and rum until smooth. Fold in 2 cups of the whipped topping, pineapple with syrup and 2 cups of the coconut, spread in 20 cm layer pan lined with plastic wrap. Invert pan onto serving plate, remove pan and plastic wrap. Spread with remaining whipped topping and sprinkle with remaining coconut. Freeze until firm, about 2 hours. Cut into wedges Garnish with pineapples and cherries if desired.