Melt the chocolate and shortening in a medium, microwave safe bowl: Place bowl in microwave for 30 seconds, then remove and stir. Place bowl back in the microwave for another 30 seconds, then remove and stir melted chocolate and shortening until smooth and combined.
Check the consistency of the melted chocolate. You don't want it too thin, or it won't stick to the pretzel, but too thick will cause it to be gloppy. You can thin the mixture out by adding another 1/2 teaspoon of shortening at a time to the melted chocolate; melt in the microwave and stir between additions until desired consistency is reached.
Place bowl on workspace and drop 2-3 pretzels at time into the warm, melted chocolate. Roll the pretzels gently in the chocolate with a small fork until covered on all sides; don't submerge them, or the holes will become filled with chocolate.
Lift chocolate covered pretzel (CCP) with the fork, tap fork on the edge of the bowl to release excess chocolate, then transfer CCP to the cooling rack fitted into the lined baking sheet. More excess chocolate should drip off at this point, but if the pretzel holes are still filled with chocolate, you can poke them through with a toothpick.
Immediately sprinkle CCPs with sprinkles while chocolate is still warm and melted.
Once cooling rack is full of CCPs, move the baking sheet to the fridge for 20 minutes, or the freezer for 10 minutes to set the chocolate.
Once chocolate is set, remove baking sheet and use a spatula to gently remove CCPs from the cooling rack (they may stick a little, so be careful). Store finished CCPs in the fridge or freezer since the chocolate can melt pretty easily when left out at room temperature.