Line a baking sheet with parchment paper. Set aside.
Add the sugar cookies and cream cheese to the bowl of a food processor. Cover and pulse until smooth.
Use a 1 ½ tablespoon cookie scoop to portion the cookie mixture onto the prepared baking sheet, about 20 balls. Refrigerate for at least 1 hour.
Add the chocolate chips to a microwave-safe bowl. Heat in the microwave in 30-second intervals, mixing after each heating, until melted and smooth.
Using a fork, dip each truffle ball into the melted chocolate until completely coated. Gently tap the fork on the side of the bowl to help remove excess chocolate.
Place the truffle back onto the baking sheet. Immediately add sprinkles on top while the chocolate is still wet. Repeat with the remaining balls and white chocolate.
Refrigerate for 30 minutes until the coating is set. Store in an airtight container in the fridge until ready to serve.