Preheat your oven to 350°F. Clear some space in your freezer for the cake pops. Mix the white cake mix with the eggs, oil, and water as directed on the box. Add a few drops of blue or pink food coloring, depending on your chosen reveal color, to achieve a gentle tint in the batter.
Grease a 9x13-inch pan, add the batter, and bake for 20-25 minutes until a toothpick comes out clean. Cool completely. If the cake has a crusted top layer, trim it off.
Crumble the cooled cake in a large bowl. Add 4 tablespoons of white frosting and mix with your hands until a dough forms. If the mixture is dry, add a bit more frosting until the mixture holds together without falling apart.
Using roughly 2 tablespoons of the mixture at a time, shape the dough into balls by rolling it between your palms. Arrange the cake balls on a baking sheet lined with parchment paper.
Melt a small amount of the candy melts in the microwave, then dip the tip of each cake pop stick into it and insert it halfway into each cake ball. Freeze the balls for about 1 hour.
When the hour is almost up, melt the leftover candy melts along with the vegetable oil in the microwave, using 20-30 second intervals and stirring between each.
Dip each cake pop into the melted coating, letting the extra drip off. Immediately sprinkle with blue and pink sprinkles before the coating hardens. Let the cake pops set completely before serving.