Start by ensuring your cream cheese is softened to room temperature. Using a hand mixer or whisk, beat the cream cheese in your mixing bowl until creamy and fluffy.
Gradually add the powdered sugar and vanilla extract to the cream cheese. Continue beating until everything is fully incorporated and the mixture is smooth and slightly thickened.
Pour in the caramel sauce and gently fold it into the cream cheese mixture. Aim for a marbled effect or mix fully for an even caramel flavor throughout the dip.
Add the diced apple and chopped pecans or walnuts to the dip. Gently fold them in to distribute evenly without crushing the apple pieces.
Transfer your dip to a serving dish and surround it with graham crackers and apple slices. Dig in immediately or chill for 30 minutes if you prefer a firmer texture.
