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Microwave white chocolate chips and oil in glass measuring cup (for easy dipping) in 30 second intervals, stirring often, just until fully melted.
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Dip jumbo marshmallows 1/3 or 1/2 of the way into chocolate.
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Gently shake off excess chocolate.
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Sprinkle chocolate with sprinkles and set on baking sheet to dry.
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Store in airtight container.
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Before serving top with whipped cream and a cherry.