Drain the fruit cocktail, nata de coco, and kaong thoroughly to remove excess syrup.
In a large mixing bowl, combine the fruit cocktail, nata de coco, kaong, grapes, and shredded cheddar cheese.
In a separate bowl, whisk together the all-purpose cream and sweetened condensed milk until smooth.
Pour the creamy dressing over the fruit mixture and gently fold until everything is evenly coated.
Cover the bowl with plastic wrap or a lid.
Refrigerate for at least 4 hours or overnight to allow the flavors to blend and the salad to chill.
Stir gently before serving and enjoy the fruit salad cold as a refreshing dessert.