Line a baking sheet with parchment paper and set aside.
In a microwave-safe bowl, combine the white chocolate chips and coconut oil. Microwave in 30-second intervals, stirring in between, until melted and smooth.
Dip each pretzel bite into the melted white chocolate, allowing any excess to drip off. Place the coated pretzels on the prepared baking sheet.
Melt the red and blue candy melts in separate microwave-safe bowls, also in 30-second intervals, stirring until smooth.
Drizzle the melted red and blue candy melts over the white chocolate-coated pretzels using a fork or a piping bag for more control.
While the candy melts are still wet, sprinkle the red, white, and blue sprinkles over the pretzels.
Allow the pretzels to set at room temperature for about 30 minutes or until the chocolate and candy melts have hardened.