In a small saucepan, heat the milk over medium heat until it starts to steam. Do not let it boil.

Add the white chocolate chips to the saucepan and stir until they are completely melted and incorporated into the milk.

Stir in the sugar until it dissolves completely.

Add 2-3 drops of red food coloring to the saucepan and stir well to evenly distribute the color. Add more drops if desired for a deeper red color.

Continue heating the mixture for another 2-3 minutes, stirring occasionally, until it is hot and well combined.

Remove the saucepan from heat and pour the red velvet hot chocolate into mugs.

Top each mug with a generous dollop of whipped cream.

Sprinkle red and pink sprinkles over the whipped cream for added decoration.

Serve immediately and enjoy the delicious and festive Red Velvet Hot Chocolate!