Prepare an 8 x 8-inch square baking sheet by lining it with parchment paper.
In a large sauce pan bring the sugar, butter, salt and whipping cream to a hard boil over medium-high heat.
Meanwhile, cut the cherries in half and set aside.
Place the pudding, chocolate chips and marshmallow fluff in a large bowl and set aside.
Stir the sugar mixture constantly once in comes to a boil. Boil for 4 minutes.
Pour the sugar and cream mixture over the other ingredients.
Stir with a wooden spoon until the chocolate chips are completely melted.
Fold the cherries into the fudge.
Carefully pour the fudge mixture into the 8 x 8 inch pan.
If using sprinkle the sprinkles over the top.
Allow fudge to harden in the refrigerator about 3 hours or overnight.
Once fudge has hardened cut into 64 pieces.
Place each color of candy melts into a sandwich baggie. Melt in the microwave about 60 seconds each. Trim the corner and drizzle first the red candy melts over the top of the fudge. Repeat with the white candy melts.
Sprinkle with more sprinkles if desired.
Store in an airtight container.