In a large nonstick skillet over medium heat (or in the oven!), cook bacon until nice and crispy. Remove to a paper towel-lined plate to drain grease, then finely chop. Set aside.
In a large bowl, stir together softened cream cheese, cheddar cheese, garlic powder, and paprika and season with salt and pepper. Use a medium cookie scoop to form mixture into small balls and transfer to a lined baking sheet. Refrigerate until firm, about 1 hour.
In a shallow bowl, stir together bacon and parsley.
Place cheese balls, one a time, into the bacon-parsley mixture and coat on all sides. Stick a pretzel stick in the top (optional) and place back on baking sheet or serving tray. Bring to room temp for about 15 minutes before serving, and store covered in the fridge if not using right away.