Cover 2 or 3 baking sheets with parchment or wax paper and place pretzels in a single layer - the number of baking sheets you'll need depends on the size of the pretzels you're using.
Place unwrapped candy canes in a large plastic storage bag and crush using a rolling pin or mallet.
Melt white chocolate over a double boiler (or in a large microwave safe bowl, if using white chocolate candy melts).
Drizzle melted white chocolate over prepared pretzels and immediately cover in crushed peppermint.