Line your 8x8 inch baking dish with parchment paper. This makes it easy to lift the fudge out once it’s set, and it keeps things neat. You can also lightly spray the paper with nonstick spray if you want to be extra safe.
In a microwave-safe bowl, add your 1 cup of strawberry-flavored pink candy melts. Microwave in 30-second bursts, stirring between each one, until the candy is smooth and creamy. This usually takes about 1 to 1.5 minutes total.
Once the pink melts are fully melted, fold in your container of buttercream frosting and 1 teaspoon of strawberry extract. Stir gently but thoroughly until everything is combined. It will smell amazing and look like soft, fluffy strawberry clouds.
In a second microwave-safe bowl, melt your 1 cup of red candy melts the same way, in short bursts, stirring in between, until smooth.
Pour the pink fudge mixture into your prepared pan and smooth it out. Then, spoon dollops of the melted red candy melts on top. Use a butter knife or skewer to gently swirl the red into the pink for a marbled effect.
Before the fudge sets, sprinkle the top with your Valentine’s sprinkles. If you're using heart-shaped sprinkles, scatter them on now too. Press them in just a bit so they stick.
Pop the pan into the fridge and let the fudge set for at least 2 hours. Once it’s firm, lift it out using the parchment paper, cut it into squares, and serve!