Remove casing from pepperoni. Cut two slices for garnish. Set aside. Slice remaining pepperoni into 1-inch pieces. In blender or food processor container process pepperoni pieces, a few pieces at a time, until crumbly.
In small bowl stir together pepperoni and cream cheese. Refrigerate at least 1 hour to blend flavors.
Let stand at room temperature for 1 hour. Garnish with pepperoni slices and cherry tomatoes. Serve with crackers.