In a large mixing bowl, combine the dry instant vanilla pudding mix with the drained crushed pineapple and the 2 tablespoons of reserved juice until well incorporated.

Gently fold in the thawed whipped topping using a spatula until the mixture is uniform and light.

Stir in the miniature marshmallows and halved maraschino cherries until evenly distributed.

Cover the bowl with plastic wrap and refrigerate for at least 1 hour to allow the marshmallows to soften and the flavors to meld.

Immediately before serving, slice the bananas and fold them into the salad along with the chopped walnuts to prevent the bananas from browning.

Garnish the top with chocolate chips and serve chilled.