In a double boiler or the microwave, gently melt the butterscotch chips. Add 1 tbsp of coconut oil if needed to thin. Transfer melted butterscotch to tall water glass. This makes it easier to dip long pretzel rods.
Dip pretzel rods into butterscotch then place onto sheet of wax paper. Generously top with chocolate sprinkles and let cool completely. Keep in container or plastic bag for up to a week.