Line a baking sheet with waxed paper; set aside. In a large bowl combine crushed cookies and cream cheese. Beat with an electric mixer on low speed until well mixed. Shape mixture into 1-inch balls.
In a large saucepan cook and stir white chocolate over low heat until melted; cool slightly.
Dip each ball into melted white chocolate; let excess drip back into pan. Place dipped truffles on the prepared baking sheet. If desired,sprinkle with colored sugar. Chill truffles about 1 hour or until firm. Store, covered, in the refrigerator.