Preheat oven to 375F and line a baking sheet with parchment paper. Arrange pretzels evenly on the baking sheet.

Unwrap caramel candies and cut in half. Place one half of a caramel candy on top of each pretzel. Place in the oven to bake for 3-5 minutes. The caramel won't be fully melted, but thats okay.

While the pretzels and caramel cool, melt the chocolates separately in the microwave or over a double boiler. If using the microwave, melt gently in 30 second increments.

Dip pretzel with melted caramel into the chocolates alternating between the white chocolate and milk chocolate. While the chocolate is still warm, add sprinkles to the chocolate caramel pretzel bites