Line two large baking sheets with parchment paper or silicone mats and set aside.

In a large mixing bowl, beat softened cream cheese with a handheld mixer for 1-2 minutes until fluffy and smooth.

Break the snack cakes into smaller pieces and add to the bowl. Mix on low speed until combined, resulting in a smooth mixture with small remaining cake pieces.

Use a small cookie scoop to form 1 tablespoon portions. Gently roll each into a smooth ball and place on prepared baking sheets.

Freeze the cake balls for 30-45 minutes until solid.

Melt white chocolate wafers according to package instructions until smooth.

Melt red candy wafers separately in a small bowl and transfer to a piping bag.

Dip each cake ball into melted white chocolate, tap off excess, and set on baking sheet. Decorate with red melted candy and sprinkles to mimic holiday themes.

Allow the decorated cake balls to set for 15-20 minutes before serving.