Line two baking sheets with parchment paper and set aside. Add the puff corn to a large bowl. Place the white chocolate chips in a small bowl and heat in the microwave in 30-second intervals (stirring after each) until smooth. Pour the melted white chocolate over the puff corn and carefully stir until coated. Add sprinkles, if desired.
Arrange the puff corn in a single layer on the prepared baking sheets. Place the milk chocolate chips in a small bowl and heat in the microwave in 30-second intervals (stirring after each) until smooth. Drizzle the melted milk chocolate over the puff corn. Let sit for 30 minutes, or until the chocolate has hardened. Store in a sealed container.