Drain cherries; discard juice or use for another purpose. Put cherries on paper towels to drain completely.
Put chocolate chips in a medium saucepan with a heavy bottom. Heat over low heat, stirring constantly, until chocolate is melted. Remove from heat.
Dip cherries into chocolate; swirl to coat completely. Place on baking sheet lined with waxed paper.
Tip: Marinate cherries overnight in rum, amaretto or your favorite spirit before coating in chocolate.