I took 2 instant white chocolate puddings, mixed them in different bowls, added red food dye to one, and green to the other. In 8 small glass mini bowls put a bottom layer(2 tablespoons) of red, then a layer of green (2 tablespoons), then another layer of red, and green. You can either leave it like that or take the end of a spoon and stir a little so it looks swirled.
A great touch to your pretzels is, get white chocolate chips, melt them and add 3-4 drops of green dye. Get a spoon full of the chocolate (to keep the chocolate warm, use a bigger bowl full of hot water and place your chocolate bowl into it), and drizzle over the pretzel rings. As the chocolate starts to harden on your pretzels start to push it into an O shape and sprinkle red, and white sprinkles onto them. Once they are completely hard take those gel decorating tubes for cookies and cake and draw a bow on the bottom.