Line counter with parchment paper enough to fit 30-40 pretzel rods.
Prepare pretzels for dipping.
Unwrap caramels; melt on stove (takes about 5 minutes to melt) with heavy cream (keeps the caramel softer for chewing)
Dip pretzel in caramel, coating the top 1/3 or 1/4 with caramel. Place on parchment. Repeat with 4-5 pretzels.
After each set of 4-5, gently roll the caramel in your hands to smooth it out. Wait until caramel is cool enough to handle but still pliable.
Continue with remaining pretzels.
Melt white chocolate (start with lighter color first) over a double boiler.
Dip pretzel in chocolate to coat the caramel, sprinkle with sprinkles, gently lay on parchment to harden.
Repeat with half of the pretzels.
Melt the pink chocolate (darker color) over a double boiler.
Continue the process with the remaining pretzels.