Line the baking sheet with parchment paper. Set aside.
Place the candy melts and coconut oil in a medium bowl and microwave them for about 3 minutes, pausing every 30 seconds to stir. If you have a high wattage microwave - you might want to do this on 50% power to keep the chocolate from seizing. Once they’re smooth and creamy when stirred, you are ready to dip.
Transfer the melted chocolate into a tall glass.
Dip each pretzel into the glass of chocolate, coating a little over half of the pretzel rod. Do not shake it. Lay it on the prepared baking sheet.
Chill the pretzel rods for about 5 minutes or until the chocolate becomes hard again.
Place the rest of the melted chocolate into a frosting bag and use scissors to cut a small tip off the end of the bag.
Starting where the chocolate ends on each rod, make a zigzag pattern as you move up to the tip of the pretzel.
Immediately press a red heart sprinkle in the middle, about a quarter of an inch below the top of each pretzel.
Chill the coated pretzels for 5 more minutes and enjoy!