Beat cream cheese, powdered sugar and vanilla in a bowl with hand mixer until smooth and creamy. Spread in 8 x 8-inch baking dish or 1-quart casserole.
Combine butter, brown sugar and corn syrup in a small saucepan over medium heat. Stir constantly until butter is melted. Continue stirring until mixture comes to a boil; boil for 1 minute. Remove from heat and stir in pecans. Pour caramel over cream cheese layer.
Bake for 20 minutes until caramel is bubbly. Remove from oven and let rest for 10 minutes. Serve with apple or pear slices, graham crackers or vanilla wafers for dipping.