In a medium bowl, combine white chocolate chips, coconut oil and 4 to 5 drops of blue food coloring.
Microwave on 50% power in 30 second intervals until the chocolate has melted. Stir until smooth.
Toss each Oreo cookie in the blue chocolate mixture until fully coated and transfer to the baking sheet. Sprinkle immediately with sanding sugar then stick two candy eyes on top. Let the chocolate set completely before serving, about 10 minutes.