Bake the vanilla cake according to package directions in a 9x13-inch pan. Let cool completely, then crumble the entire cake into fine crumbs in a large bowl using your hands or a fork.
Add the vanilla frosting to the cake crumbs and mix thoroughly with your hands or a spatula until the mixture holds together when squeezed. It should have the consistency of cookie dough—not too wet or too dry.
Roll the mixture into 24 equal balls, about 1.5 inches in diameter (roughly 2 tablespoons each). Place them on a parchment-lined baking sheet and freeze for 30 minutes until firm.
Melt the white candy melts in a microwave-safe bowl in 30-second intervals, stirring between each, until smooth. If too thick, stir in 1 teaspoon coconut oil.
Dip the tip of a lollipop stick about 1/2 inch into the melted white coating, then insert it halfway into a cake ball. Repeat with all balls and return to freezer for 10 minutes.
Remove 3-4 cake pops at a time from the freezer. Dip each pop completely into the white coating, letting excess drip off by gently tapping the stick against the bowl's edge. Immediately sprinkle with red and blue decorations while the coating is still wet.
Stand the decorated pops upright in a styrofoam block or lay them on parchment paper to set. Refrigerate for 15 minutes to harden the coating.
For variety, melt the red and blue candy melts separately and dip some pops in solid red or blue instead of white. Drizzle contrasting colors over the white-coated pops for extra flair using a spoon or piping bag.
Once all pops are decorated and set, store in the refrigerator until 30 minutes before serving for the best texture and appearance.