The giant cherry tree is an easter egg that can be found, funnily enough, in Mordor. It is much wider and taller than a normal cherry tree.
Its approximate coordinates in terms of (x, z) are [redacted]. Similar to Shrek's House, this 'structure' only spawns in this one specific location in the world. Other than being an easter egg, it has no purpose in the world, except maybe to feed hungry Mordor players, or to provide some much-needed beauty to the Black Land.
The giant cherry tree was inspired by this picture.
The person who found this special tree first was Jonsnowfn.