Line two baking sheets with parchment paper or wax paper and set aside.
In a microwave-safe bowl, combine semi-sweet chocolate chips with 1 tablespoon coconut oil. Microwave in 30-second intervals, stirring between each, until completely melted and smooth.
Dip each pretzel into the melted chocolate, covering about three-quarters of the pretzel. Allow excess chocolate to drip back into the bowl.
Place dipped pretzels on prepared baking sheets and immediately add sprinkles or decorations before the chocolate sets.
In a separate bowl, melt white chocolate chips with remaining 1 tablespoon coconut oil using the same method. Drizzle over the chocolate-covered pretzels using a fork or transfer to a piping bag.
Refrigerate for 15-20 minutes until chocolate is completely set. Store in an airtight container at room temperature for up to 2 weeks.