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ADD boiling water to dry gelatin mix in medium bowl; stir at least 2 min. until gelatin is completely dissolved. Stir in cold water. Pour into 13x9-inch pan. Refrigerate 3 hours or until firm. Cut gelatin into 1/2-inch cubes.
SPOON 1/4 cup of the whipped topping into each of 8 dessert dishes. Using back of spoon, spread whipped topping onto bottom and up side of each dish; fill centers with gelatin cubes.
SERVE immediately. Or, refrigerate until ready to serve.