I had bought Peppermint Hershey's Kisses after Christmas and tucked them in the freezer for this project, as well as plenty of small candy canes. (And no, it is not crazy to plan Valentine's stuff right after Christmas, that is when all the good candies are on sale).
For the Nibbles, we topped a pretzel with a Hershey's Kiss and melted them slightly in the oven, a couple of minutes at about 350. When they are soft, but still formed, pull them out and press an M&M into the middle, then let them cool and harden.
For the lollipops, we set two candy canes into a heart shape on a wax paper coated cookie sheet, then placed a stick in the center. I melted the Wilton white candy melts, and spooned it carefully into the area, using a baby spoon to move it around, then F&B sprinkled decorations on top.