Place the red candy melts in a small bowl and the blue candy melts in another small bowl.
Heat the candy, one at a time, for 30 seconds at a time, stirring after each heating, until the candy melts are totally melted.
Dunk one end of the marshmallow into the red candy and sprinkle with white sprinkles. Set on a piece of wax paper to harden.
After the red chocolate has harden, dunk the opposite end of the marshmallow into the blue candy, leaving some white in the middle, and sprinkle with white sprinkles.
Allow the candy to harden. Store in an air tight container for up to 1 week.