Chop the milk chocolate and place the place the chopped chocolate and the cream in a double boiler over medium heat. Stir to melt the chocolate.
Once the chocolate is melted, remove from the heat and stir in the vanilla and pour the chocolate mixture into a metal mixing bowl and let it set at room temperature.
Once the chocolate mixture has set but is still a malleable texture, scoop out a small balls with a melon baller,small cookie scoop, or teaspoon, and roll them with your hands to create the truffle centre. Set the truffle balls onto a parchment paper lined baking sheet.
Coat the truffle centre with cocoa powder, or melt chocolate candy coating and dip the truffle centres in it to coat. Decorate with sprinkles, or drizzle with melted pink candy coating. Let the chocolate set at room temperature and then enjoy.