Using one pound of caramel and one pound of chocolate you can make about 30-35 pretzel rods.
Slice caramel into pencil thin pieces and roll into a rope. Attach to the top of a pretzel and spiral around letting the caramel stretch as you go down the pretzel. Spiral about 1/2 to 3/4 of the way down the pretzel. Set on parchment paper. Do all desired pretzels in the same manor.
Melt chocolate in the microwave on defrost or 30% power for 30 seconds; make sure you stir for 1 minute between each heating. Continue microwaving (30 seconds) and stirring 1 minute until fully melted.
Pour melted chocolate into a tall glass and dip each pretzel with caramel into the melted chocolate to coat. Option: Hold pretzel over melted chocolate and ladle chocolate over the pretzel. Let the chocolate drip off the pretzel until it stops dripping then place on parchment paper to set.
After doing 3-5 pretzels and before the chocolate has set add sprinkles. Or you can drizzle with different colored melted chocolate.
When dry place into cello bags and tie with ribbon or use twisters.