Preheat the oven to 350°F (175°C) and prepare a 9x13 inch baking pan with cooking spray or parchment paper.

In a large mixing bowl, combine the red velvet cake mix, eggs, water, and vegetable oil. Mix until well combined and smooth.

Pour the cake batter into the prepared baking pan and bake for 25-30 minutes, or until a toothpick inserted into the center comes out clean.

Allow the cake to cool completely in the pan before transferring it to a cooling rack.

Once cooled, crumble the cake into a large bowl and mix in the cream cheese frosting until the mixture is well combined and holds together.

Take small portions of the cake mixture and press them into the star-shaped popsicle molds, filling each mold about 3/4 full. Insert a lollipop stick into each mold and freeze for at least 2 hours, or until solid.

In a microwave-safe bowl, melt the white chocolate chips and coconut oil together in 30-second intervals, stirring until smooth.

Remove the cakesicles from the molds and dip each one into the melted white chocolate, allowing any excess to drip off.

Immediately sprinkle red and blue sprinkles on top of the dipped cakesicles before the chocolate hardens.

Place the decorated cakesicles on a baking sheet lined with parchment paper and let them set in the refrigerator for about 30 minutes before serving.