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ARRANGE 8 wafers in candy cane-shape on parchment-covered baking sheet. Repeat 3 times to make 4 candy canes.
BRUSH chocolate onto flat sides of remaining wafers. Arrange 7 wafers, chocolate-sides down, on each candy cane to make second layer of wafers. Refrigerate 10 min. or until chocolate is firm.
BRUSH wafers lightly with water; sprinkle every other wafer with red sugar. Sprinkle white sugar onto remaining wafers.