1. Line baking sheet with wax paper.
2. Microwave 1 cup morsels and vegetable shortening in small, dry, uncovered, microwave-safe bowl on medium-high (70%) power for 1 minute; stir. The morsels may retain some of their original shape. If necessary, microwave at additional 10 to 15 second intervals, stirring just until morsels are melted.
3. Dip pretzel rods about 3 inches into melted morsels, tilting bowl to easily dip. Use side of bowl to remove excess. Sprinkle with morsels or sprinkles. Place on prepared baking sheet. Refrigerate for 20 minutes or until set. Store in airtight container at room temperature. Best when eaten within a few days.
For a Fancy Drizzle
Microwave 2 tablespoons of each desired morsel flavor in small, heavy-duty plastic bags on medium-high (70%) power for 30 seconds; knead. Microwave at additional 10 to 15 second intervals, kneading until smooth. Cut tiny corner from each bag; squeeze to drizzle over already dipped pretzels on baking sheet. Refrigerate and store as directed above.