Line a baking tray with wax paper.
Melt the chocolate and the oil (this keeps it smooth and easy to work with) I prefer the Bain-marie method or double burner method. Place a skillet over a saucepan. The saucepan should have about 1-2 inches of water. Be sure the water does not touch the skillet. Bring the water to a boil and then down to a simmer. Place the chocolate & oil in the skillet. Let it melt, mixing frequently.
Add the food coloring until you get the color you love.
Next, dip the pretzels letting the extra chocolate drip off. I like to use a pair of tongs for the dipping, it makes this a whole lot less sticky to do. Using your fingers can be a total mess!
Working on the lined baking sheet: place the pretzels to form a clover and the stem, make sure they are touching each other so when the chocolate dries your shamrock pretzels stick together. With a small spoon, place a dollop of chocolate in between the pretzel twists, place the stick in there for the stem. Gently press an m&m in the center.
Sprinkle on the sprinkles (any color you like) Finally, let these set in the fridge until hardened, about 30 minutes.