Pack of caramel - any from the baking section should work, I personally like the Kraft brand of caramel.
Pack of chocolate or candy melts
In a microwave safe container, melt caramel and 2 to 3 tablespoons of water in 20 to 30 second increments. Make sure to stir caramel every 20 seconds to ensure the heat is evenly distributed.
Dip pretzel rods into caramel and allow to dry on a piece of parchment paper or wax paper.
While the caramel is drying on the pretzels, starting microwaving your candy melts or chocolate for 20 to 30 second increments, stirring in between each interval.
Dip dried pretzels into chocolate and allow to dry again. If you;d like to add sprinkles, this would be the time to do so.
Once chocolate has completely dried, add a chocolate drizzle if you'd like with a Ziploc bag. To make the drizzle, add chocolate to the corner of a Ziploc bag and snip the end of the bag with scissors to desired thickness. Make sure to have a steady flow of chocolate to ensure a smooth drizzle. You can also add sprinkles at this step if you'd like.