Line baking sheet with parchment paper. Place Abuelita chocolate in small bowl.
Microwave morsels and coconut oil 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.
Dip pretzel rods about 3 inches into melted morsels, tilting bowl to easily dip. Shake off excess. Sprinkle with Abuelita chocolate; place on prepared baking sheet.