In a medium saucepan, combine the heavy cream and unsalted butter over low-medium heat until it reaches a gentle boil, about 5 minutes.

Remove the saucepan from the heat and pour the hot cream and butter mixture over the chopped chocolate in a mixing bowl. Let it sit for about 5 minutes.

Mix in peppermint extract and crushed candy canes until well combined.

Cover the mixture and refrigerate for about 1 to 2 hours until it firms up.

Scoop out portions of the mixture using a tablespoon cookie scoop and roll into balls, dusting your palms with cocoa powder or powdered sugar as needed.

Roll each truffle in crushed candy canes, cocoa powder, or red sanding sugar.

Refrigerate the coated truffles for another 1 to 2 hours to set thoroughly.