Finely chop the glace cherries into small chunks (or puree in a food processor).
Place the chopped cherries into a large bowl.
Add the desiccated coconut and sweetened condensed milk and mix until well combined and sticky.
Add the pink food colouring and mix until evenly distributed.
Roll mixture into heaped teaspoon-sized balls and place onto a baking tray.
Place the tray into the freezer for 30 minutes to firm up.
Place chocolate melts and coconut oil into the microwave.
Cook on 50% power in 30 second bursts until just melted (stirring each time with a dry metal spoon).
Using two forks, dip each of the coconut balls into the melted chocolate mixture, allowing any excess to drip off.
Place back onto the baking tray and top with a small Cherry Ripe square.
Repeat with remaining balls.
Keep refrigerated in an airtight container for up to 5 days.