Place chocolate in a heatproof bowl set over a pan of barely simmering water. Stir occasionally until melted and smooth.
Place coconut or nut on a plate.
Insert stick about halfway into bottom section of Peeps bunny. Dip into chocolate, turning to coat completely. Lift bunny from the chocolate but keep it over the bowl; use a knife to scrape excess chocolate off the back and bottom. Hold bunny over the plate of coconut or nuts and sprinkle to cover all sides.
Lay bunny on prepared baking sheet and dip remaining bunnies. Place baking sheet in freezer and freeze until firm about 30 minutes.