Line a baking sheet with parchment paper.
Place the caramels in a glass bowl or mason jar and microwave for about a minute or until the caramel is melted and smooth when stirring. One at a time, dip a pretzel rod into the caramel. Scrap off any excess parts with a spoon or butter knife. Repeat this step with all of the pretzels. Refrigerate for 5 minutes.
Put the chocolate wafers in a glass both and melt until smooth. Using a spoon, drizzle the chocolate over the caramel on the pretzel rods. If using sprinkles, sprinkle them immediately over the chocolate before it hardens.
Place the rods back in the refrigerator for another 10 minutes.
Store in an air-tight, cool place.
