Prepare the Ganache: In a saucepan, heat the heavy cream over medium heat until it just begins to simmer. Remove from heat and add white chocolate chips and butter. Stir until completely melted and smooth. Mix in the vanilla extract.

Color the Ganache: Divide the ganache into three bowls. Leave one bowl white, add red food coloring to the second, and green to the third, mixing thoroughly.

Chill the Ganache: Cover and refrigerate the ganache for about 2 hours or until firm enough to scoop.

Form Truffles: Use a melon baller or teaspoon to scoop the ganache into small balls. Roll between your hands to form smooth balls and place on a parchment-lined baking sheet.

Coat with Chocolate: Melt the red, green, and chocolate candy melts according to package instructions. Dip the truffles into the melted candy melts, fully coating each one. Place them back on the parchment paper and let them set.

Decorate: While the coating is still wet, add sprinkles or decorative sugar. Drizzle with contrasting colors of melted candy melts for extra decoration.