Combine the instant banana pudding mix and cold milk in a medium mixing bowl. Mix together using a hand mixer on low to medium speed, until the pudding begins to thicken. Set aside.
Using a hand mixer on medium speed, beat the cream cheese until smooth in a large bowl. Scrape down the sides of the bowl with a rubber spatula and give it another mix.
8 ounces cream cheese
Add the thickened pudding mixture to the beaten cream cheese and mix together until well combined.
Gently fold in the Cool Whip using a rubber spatula. Scrape down the sides and the bottom of the bowl to get all the cream cheese that may be stuck at the bottom.
8 ounces Cool Whip
Add the sliced bananas, mini marshmallows, and mini vanilla wafers. Fold together until the ingredients are evenly distributed.
3-4 bananas, 3 cups Mini Nilla Wafers, 2 cups mini marshmallows
Top with extra banana slices and Nilla wafers and then serve immediately.
Notes
The cream cheese makes this fluff rich and a little more dense. If you prefer it a bit fluffier, you can use less cream cheese or add a little more whipped topping to the mix.
If you prefer the wafers to be softer, place the bowl in the refrigerator to chill for 30 minutes before serving.