Prepare the red velvet and white cake mixes according to package instructions and bake in separate pans. Allow them to cool completely.

Once cooled, crumble the red velvet cake into a large bowl and mix in a third of the buttercream frosting until well combined.

Repeat the crumbling process with the white cake, using another third of the buttercream frosting.

Take a small amount of the red velvet cake mixture and press it into the bottom of each cakesicle mold, then layer with a small amount of white cake mixture on top, pressing down gently to compact it.

Insert lollipop sticks into the molds and freeze for at least 2 hours, or until completely set.

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

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

While the coating is still wet, sprinkle red, white, and blue sprinkles on top of each cakesicle.

Place the decorated cakesicles on a parchment-lined tray to set completely.