Add ricotta, cream cheese, and powdered sugar into the bowl of an electric mixer beating on medium-high speed until smooth. (3-5 minutes.)
Add in the vanilla, whipping for another 30 seconds.
Taste the dip - if you'd like it sweeter, add more powdered sugar, about 2 tablespoons at a time. (up to 8 tablespoons)
Add in mini chocolate chips stirring with a spatula.
Keep some of the mini chocolate chips to garnish the dip top.
Put a waffle cone in the center of the dip for additional garnish.
Serve dip immediately with broken waffle cones and/or small chocolate chip cookies.
Store in a container with a lid and place in the refrigerator.