Melt unwrapped caramels in a microwave according to package directions. Working quickly, spoon small dollops of caramel onto 16 wafers. Place a lollipop stick in center, and top each with another wafer to make a cookie sandwich.
Melt chocolate chips according to package directions. Dunk each cookie sandwich in chocolate and shake to remove excess. Top lollipops with sprinkles and place onto parchment or wax paper lined baking sheet. Chill for 5 to 10 minutes or until firm.