Line a baking sheet with parchment; insert a lollipop stick or toothpick into each marshmallow and set aside.
Put coconut in a shallow bowl or plate; mix in optional edible glitter for sparkle.
Microwave white chocolate and coconut oil in a microwave-safe bowl at 30-second intervals, stirring between each, until melted and smooth; stir in vanilla.
Holding sticks, dip marshmallows and turn to coat completely; let excess drip into bowl.
Immediately roll in coconut, pressing gently to cover completely for a snowball effect.
Place on sheet; refrigerate 15-20 minutes until set. Store airtight in refrigerator up to 1 week; serve chilled for best results.