Preheat your oven to 250 and line a baking sheet with parchment paper

Unwrap and cut the caramel pieces in half.

Place half of the pretzels in rows on the baking sheet, then top each one with half a caramel.

Bake for about 8 minutes, until the caramels are slightly melted. Remove from oven and top each one with another pretzel. Set aside to cool.

Use a double boiler or place a heat resistant bowl over a small pot of simmering water. Melt the blue candy melts until smooth and lump free. If needed, you can add ½ tsp of vegetable shortening at little at a time until you reach the right consistency for dipping. 

Place a sheet of wax or parchment paper on a counter, table or other flat surface. Dip about 1/3 of each pretzel into the blue chocolate, place it on your surface and sprinkle with star sprinkles and/or white sprinkles. Be sure to do it while the chocolate is still warm or the sprinkles won't stick. 

Next, melt the red and white chocolates, adding vegetable oil 1/2 tsp at a time if needed.

Working with one color at a time, place the melted chocolate in a piping bag and drizzle on the bottom 2/3 of the pretzels.  Next drizzle with the second color, making sure you can still see the first color.

Cool completely and serve.