On medium heat in a medium saucepan, whisk the vanilla pudding mix, Jello mix, and water together. Bring to a boil.
Remove from the heat and place in a medium sized mixing bowl. Cover with bowl lid or plastic wrap. Place the bowl in the refrigerator to chill overnight.
After the Jello is set and chilled, mix with an electric mixer until light colored and combined.
With a spatula, fold in the Cool Whip and marshmallows. Place half of the filling in one of the graham cracker crusts. Place the other half of the filling in the other crust.
Garnish with more Cool Whip and maraschino cherries. Place in the refrigerator until ready to consume.