Chop pineapple slices roughly. Heat ½ cup water in a bowl in a microwave oven.
Add carrageenan and stir till well blended.
Place condensed milk in a deep glass bowl, add pineapple (keeping aside a few pieces for garnish) and whipped cream and mix well.
Add pineapple essence, yellow colour and mix well.
Add dissolved carrageenan and mix.
Pour the mixture into individual glasses or bowls or ramekin moulds.
Keep them in a refrigerator to set for 2-3 hours.
Garnish with pineapple pieces and glacé cherries and serve chilled.