In medium microwavable bowl, microwave white chocolate baking chips uncovered on High about 2 minutes, stirring every 30 seconds, until chips can be stirred smooth. Divide among small bowls, and stir in food colour(s) as desired. Dip top of each cookie wreath and cookie centre into melted chips. Decorate with candy sprinkles as desired. Place on cooling rack until set, about 20 minutes. Store tightly covered.