About.com has a recipe for pretzel kisses with M&M's that involves topping mini pretzels with Hershey's Kisses chocolate candy. Soften the chocolate in the oven, then press an M&M candy into each Kiss. A recipe from SallysBakingAddiction.com uses Hershey's Hugs instead of Kisses.
To make About.com's pretzel kisses with M&M's, preheat the oven to 200 F and spread mini round or square pretzels out on a baking sheet lined with parchment paper. Place a Hershey's Kiss on top of each pretzel. Place the chocolate-topped pretzels in the oven just until the Kisses start to soften, about three to five minutes. Press an M&M into the center of each softened chocolate, so that the pointed tip flattens. Allow the chocolate to cool completely, then place in the refrigerator to set before serving.
To make the SallysBakingAddiction.com version, replace the milk chocolate Hershey's Kisses with Hershey's Hugs, which combine white chocolate and milk chocolate. This website suggest using a silicone baking mat and heating the oven to 250 F. Other variations of this recipe include adding sprinkles in addition to the M&Ms or adding three or more M&Ms to make a flower shape. Another option is top each one with another pretzel, turning them into sweet pretzel sandwich treats.