PREHEAT oven to 350° F.
CRUMBLE dough into medium bowl. Add flour; mix until combined. Divide dough into 12 pieces. Roll each piece into a 12-inch rope on lightly floured surface. To form pretzels, make a U-shape with the rope. Holding the ends of the rope, cross over and press onto the bottom of the U and place 3 inches apart on ungreased baking sheets. Refrigerate for 10 minutes.
BAKE for 9 to 11 minutes or until light golden brown. While hot, reshape holes in centers of pretzels with knife. Cool on baking sheets for 2 minutes; remove to wire racks to cool completely.
MICROWAVE morsels in small, heavy-duty plastic bag on HIGH (100%) power for 30 seconds; knead. Microwave at additional 10- to 15-second intervals, kneading until smooth. Cut tiny corner from each bag. Squeeze chocolate over pretzels; spread with knife. Top chocolate with sprinkles. Allow to set. Store in airtight container.