Combine the butter, sugar, brown sugar, condensed milk and corn syrup in a large microwave safe bowl.
Microwave for 6 minutes, stirring every 2 minutes.
Pour the caramel into a tall thin glass.
Dip each pretzel rod into the caramel, covering about 2/3 of the way. Allow excess caramel to drip off.
Place the pretzel rods on a baking sheet lined with parchment paper.
Roll the pretzels, or use your fingers, to smooth the caramel that has pooled around the pretzels more evenly.
Melt chocolate in the microwave at half power, stirring every 30 seconds till smooth.
Scoop the chocolate into a tall thin glass.
Dip the pretzels into the chocolate and place back onto the parchment paper.
Spread sprinkles evenly over the chocolate.
Allow chocolate to set completely.
Store in an airtight container for up to 1 week.