Cut the watermelon, remove the rind, and discard any seeds. Use only the red, sweet flesh. TIP: Choosing a seedless watermelon makes the process much faster.
Place the watermelon flesh in a blender and purée until completely smooth. Then, strain it through a fine-mesh sieve to prevent the parfait from becoming too watery and to ensure a silky texture.
Whip the well-chilled heavy cream until stiff peaks form. Tip: For successful whipping, chill the mixing bowl and whisk attachment to help the cream hold its shape.
In a bowl, combine the sweetened condensed milk, sugar, vanilla extract, and strained watermelon purée until you have a homogenous mixture.
Gently fold the whipped cream into the watermelon mixture. Be careful not to overmix; fold gently to maintain the airy texture, which will make the parfait light.
Pour the mixture into molds or glasses. Smooth the tops, cover with plastic wrap, and place in the freezer for at least 6 hours, but ideally overnight.
Remove from the freezer 5-10 minutes before serving to make it easier to scoop. Garnish with fresh watermelon cubes (rind and seeds removed) and, optionally, a dollop of whipped cream.
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