Line a large baking sheet with parchment paper and set it aside.

Insert one paper lollipop stick straight through the center of each marshmallow until secure, stopping before pushing through the top.

Place the marshmallows on the prepared baking sheet and refrigerate for 10 minutes to firm slightly.

Add the pink candy melts and coconut oil to a microwave-safe bowl.

Microwave the candy melts for 30 seconds, then stir well.

Continue microwaving in 15-second intervals, stirring after each, until the coating is completely smooth.

Remove the marshmallows from the refrigerator.

Hold one marshmallow by the stick and dip it fully into the pink candy coating, rotating slowly to coat all sides evenly.

Lift the marshmallow from the coating and gently tap the stick against the bowl to remove excess candy.

Place the coated marshmallow back onto the parchment-lined baking sheet.

Repeat the dipping process with the remaining marshmallows.

Allow the coated marshmallows to set at room temperature for 10 minutes.

Add the red candy melts to a small microwave-safe bowl.

Microwave the red candy melts in 15-second intervals, stirring until smooth.

Use a spoon or piping bag to drizzle the red candy melt over each marshmallow pop.

Immediately sprinkle heart-shaped sprinkles over the pops while the drizzle is still wet.

Let the marshmallow pops set completely at room temperature for 20 minutes or until firm.

Once set, the marshmallow pops are ready to serve or store.