Preheat the oven to 350°F (175°C). Prepare two 9-inch cake pans by greasing and flouring them.

Bake the red velvet cake according to package instructions in one of the prepared pans and the white cake in the other.

Once baked, allow the cakes to cool completely. Crumble each cake into separate large bowls.

Add half of the cream cheese frosting to each bowl and mix until well combined.

Using your hands, form small balls (about 1 inch in diameter) from the cake mixture and place them on a parchment-lined baking sheet.

Freeze the cake balls for about 30 minutes to firm them up.

Melt the red, white, and blue candy melts according to package instructions.

Dip each cake ball into the melted candy, coating them completely. Allow excess candy to drip off.

While the coating is still wet, sprinkle the blue sprinkles on top of the cake balls for decoration.

Place the coated cake balls back on the parchment paper and allow them to set until the coating hardens.