CRUSH 4 cookies finely; set aside. Scoop each flavor ice cream into 4 balls. Press 1 whole cookie halfway into center of each vanilla ice cream ball; top with chocolate ice cream ball, pressing together slightly to secure. Roll in cookie crumbs. Place on waxed paper-covered baking sheet. Freeze 2 hours or until firm.
MICROWAVE chocolate squares and oil in small microwaveable bowl on HIGH 45 sec.; stir until chocolate is completely melted. Cool slightly.
PLACE wire racks over large sheets of waxed paper; top with ice cream balls. Spoon melted chocolate over ice cream balls, using about 1 Tbsp. for each. Top with cherry. Freeze 1 hour or until chocolate coating is firm.
