Line a baking sheet with parchment paper or a silicone baking mat.

In a glass bowl set over a pot of boiling water (or a double boiler) add the white chocolate and coconut oil. Melt, stirring until smooth. Stir in the peppermint extract.

Working with 1 pretzel at a time, add a pretzel to the white chocolate and use a fork to coat with the chocolate. Lift the pretzel out of the chocolate with the fork and tap any excess chocolate on the side of the bowl. Transfer to the baking sheet.

Repeat with 2-3 more pretzels, then sprinkle with crushed candy canes before the chocolate sets. Top with sprinkles if desired.

Let the chocolate cool completely for at least 30 minutes. Break the pretzels apart. Package up for gifts or enjoy right away!