After cake has cooled, crumble cake into a large bowl, add cream cheese or frosting and using fingers, mix until the mixture is well combined.

Using a small cookie scoop, or your hands, portion small balls of cake and roll between your palms until nicely rounded.

Place cake balls on a baking sheet covered with aluminum foil.

Place sheet in the freezer for at least 30 minutes.

In a microwave-safe bowl, heat red candy chocolate wafers in the microwave until melted and place melted chocolate into a ziplock bag. Snip a small corner off and pipe small valentines onto parchment or tinfoil and let set.

In another microwave-safe bowl, heat candy coating in the microwave until melted, stirring often to prevent overheating. If needed, add a small amount of butter or shortening to thin the candy coating to a more drippy consistency.

To coat, rest a cake ball on a fork and spoon candy coating over top. Tap handle of fork on the edge of the bowl to allow excess coating to drip off.

Place the dipped truffle on the foil-lined baking sheet. Repeat with remaining cake balls.

Refrigerate truffles to set coating completely, about 20 minutes.

Store in a resealable container or plastic bag in the refrigerator, up to one week.