In a large mixing bowl, combine the sliced strawberries and powdered sugar. Toss gently and let them sit for about 10 minutes to release their juices.
In another bowl, mix the whipped topping, vanilla yogurt, and vanilla extract until well combined.
Gently fold the strawberry mixture into the yogurt mixture until evenly distributed.
Add the bite-sized pieces of angel food cake and fold them in carefully to avoid breaking them apart.
Serve the salad in individual bowls or a large serving dish, and sprinkle the crushed graham crackers on top for added crunch.
Chill in the refrigerator for at least 30 minutes before serving to allow the flavors to meld.