1.In a mixing bowl, beat the cream cheese, butter & vanilla until fluffy. Gradually add sugars, beat until just combined. Stir in chocolate chips.
2.Cover and refrigerate two hours.
3. Place cream cheese mixture on a large piece of plastic wrap and shape into a ball. Refrigerate for at least an hour.
5.If you choose, just before serving, roll cheese ball in pecans. Serve with graham crackers.
(You may add other flavors such as toffee chips, peanut butter chips, etc. along with the chocolate chips...but chop them into smaller pieces)