Using a double boiler, heat yellow candy melts, stirring regularly until completely melted and smooth. Stir in 3 tablespoons of coconut oil to thin the chocolate.
Dip each Nutter Butter cookie into the melted yellow chocolate, turning to coat.
Allow excess chocolate to drip back into bowl, then place coated Nutter Butters on a cookie sheet lined with parchment paper to dry.
Allow chocolate to set completely.
While cookies harden, scoop the rest of the yellow chocolate into a piping bag and clean out the double boiler pot.
Using your double boiler, melt your white chocolate. Add 2 tablespoons coconut oil to thin the chocolate.
Scoop melted white chocolate into a plastic piping bag and cut off the tip of the bag, so that you have an opening about the size of a fine-point marker tip.
Draw an outline of a cracked egg shell around the top and bottom of the Nutter Butter, leaving the middle 1/3 of the cookie yellow. Allow the outline to set for 5-10 minutes, then fill in your "egg shells" completely with white chocolate.
Add a small dollop of white chocolate onto the back of the candy eyes, then gently press eyes onto the middle of your cookie, just under the top egg shell.
Dip the orange M&M into the still melted yellow chocolate (reheat if needed). Place one M&M into the middle of the cookie to make the nose, with yellow chocolate holing it in place.
Allow cookies to set completely before serving.
Notes
Note: Nutrition information is a rough estimate only; actual values will vary based on the exact ingredients used and amount of recipe prepared.