In a medium saucepan, gently heat ¼ cup of heavy cream over medium-low heat until it begins to simmer, which should take about 4-5 minutes. Remove from heat and pour over 8 oz of chopped white chocolate in a mixing bowl.

Add 1 tablespoon of unsalted butter and ½ teaspoon of peppermint extract to the bowl. Stir gently with a spatula until everything is completely melted and smooth, about 2-3 minutes.

Cover the bowl with plastic wrap and place it in the refrigerator for 1 to 2 hours until the ganache is firm enough to handle.

Scoop out the ganache using a small cookie scoop or your hands and roll into 1-inch smooth balls. Place on a parchment-lined baking sheet.

Freeze the truffles for about 15 minutes to firm them up.

In a microwave-safe bowl, combine 12 oz of white chocolate for coating and 1 teaspoon of coconut oil. Microwave in 30-second intervals until melted and glossy, about 1-2 minutes.

Remove truffles from the freezer and dip each into the melted white chocolate using a fork. Allow excess chocolate to drip back into the bowl.

Before the chocolate sets, sprinkle each truffle with crushed candy canes, pressing lightly to adhere.

Refrigerate the coated truffles for about 30 minutes to set the coating.

Once set, transfer the truffles to an airtight container and refrigerate until ready to serve. They can be enjoyed right away or kept for up to 10 days.