Smash the Oreos into a fine, uniform dust. You can work in batches, blitzing them in a food processor or blender. If you don't have either, place Oreos in a gallon-size bag. Seal the plastic bag and use a rolling pin or back of a spoon to finely crush cookies. They should be smaller than gravel.
Mix in softened cream cheese until a dough forms. Roll into one-inch balls. Set on baking sheet and place in fridge to harden.
In a microwave-safe bowl, combine chocolate chips and oil. Heat in 30-second intervals, stirring in between, until it's drizzle-able. (It should be about as thick as pancake batter.)
Dunk each Oreo ball in chocolate, submerging it completely. Place dipped balls on the parchment-lined baking sheet. Decorate each one right away with sprinkles or crushed candy and let cool in the fridge until the chocolate has hardened, about an hour.