1Line 2 baking sheets with parchment paper and set aside.
Using a mixer (preferably with a paddle attachment but a regular mixer will work) combine powdered sugar, egg white product, water, peppermint, and food coloring. Mix on low speed until smooth.
2Increase speed to high and beat until mixture forms a stiff dough. If it gets too stiff, add extra water at 1/2 teaspoon at a time until it smooths out. Put mixture on a work surface dusted with powdered sugar and roll into a 12 inch log about 1 1/4 inches in diameter. Slice log into 1/4 to 1/2 inch pieces, form them into balls and flatten into disks. Arrange in single layers on baking sheets. Let dry, uncovered for 3 hours.
3Put chocolate and vegetable oil in a small bowl and set it over a pan of barely simmering water. Stir until the chocolate is smooth and melted. Be careful not to burn. Dip 1 half of the candy into melted chocolate and return to parchment paper until chocolate sets. About 3 hours.