Line a large jelly roll pan with parchment paper. Skewer the marshmallows through the middle, 2 per stick. Set the sticks on the pan and set aside.
Set up a double boiler on the stove. I place a small sauce pan on the stove and fill it with a few inches of water. Then I place a glass heat safe bowl on top (make sure the water isn’t touching the bowl). Then I heat it on medium low heat—do not let the water boil.
Place chocolate in the bowl (either white or dark). Stir occasionally. Once chocolate is melted, add coconut oil and stir well. Then add the extract and mix once more.
Begin to dip the marshmallows. I like to lower them into the bowl, one stick at a time, and use the spoon to scoop up the chocolate onto the sides of the marshmallow. Start with a thin coat (you will dip a second time). Using the spoon, wipe away any drips and carefully set the stick down on the parchment, setting down without moving to prevent a foot from forming. Repeat with all remaining sticks, you will not use all of the chocolate. Set the tray into the freezer for 10 minutes to let the chocolate set.
Remove the tray from the freezer. Repeat the dipping process, using the spoon to coat each marshmallow. This time, sprinkle with sprinkles or candy canes before setting back down on the tray—I like to hold the stick over the bowl or sprinkles and turn it in one hand while sprinkling with the other.
Once you've dipped and sprinkled all of the sticks return the tray to the freezer for 10 minutes. Once the chocolate is set you can wrap the sticks—I prefer plastic wrap. Store the wrapped sticks in the refrigerator to prevent melting.