In a large microwave-safe bowl, melt white chips; stir until smooth. Set aside ½ cup for decorating.

Add pretzel sticks to remaining chips; stir until coated. Scoop a small amount of mixture onto waxed paper; shape into a nest using two forks. Repeat, forming 25 nests. Dip bottom of Peep into reserved white chips; place in a nest. Add eggs to nests, securing with white chips. Repeat. Let stand until set.