Pour the chocolate candy melts into a microwave safe dish and heat in 30-second increments, stirring occasionally until melted.
Carefully dip the rim of each mug into the melted chocolate and set aside from the chocolate to harden. In a medium saucepan, combine the strawberry ice cream, butter, and granulated sugar.
Heat on medium heat stirring until melted.
Slowly add in the water 1 cup at a time until you’ve reached your desired hot cocoa consistency. Pour into the prepared mugs, top with whipped cream and sprinkles and enjoy!