In a food processor, pulse the Oreo cookies until they are finely crushed and resemble a powder.
Add the softened cream cheese to the cookie crumbs in the processor. Blend until well combined, and the mixture is moldable.
Using your hands, scoop out tablespoon-sized portions of the mixture and roll them into balls. Place the balls on a baking sheet lined with parchment paper.
Once all the mixture is formed into balls, freeze them for about 30 minutes, or until firm.
While the truffles are freezing, melt the white chocolate chips in a microwave-safe bowl. Heat in 30-second intervals, stirring after each, until smooth and fully melted.
Remove the truffles from the freezer. Dip each truffle into the melted white chocolate, letting the excess drip off.
Immediately roll the dipped truffles in the shredded coconut to coat. If desired, you can lightly dust some with cocoa powder for a contrasting flavor.
Place the coconut-coated truffles back on the parchment-lined sheet. Repeat until all truffles are coated and rolled.
Refrigerate the Oreo Snowball Truffles until the white chocolate is set, about 20 minutes.
Notes
For a contrasting flavor, dust some truffles with cocoa powder.