Place white chocolate in a microwave-safe bowl. Heat in microwave on medium setting for 5 to 6 minutes. Stir occasionally, until chocolate is melted and smooth.
Place candy canes in a plastic bag, or between two pieces of waxed paper. Using a mallet or rolling pin, break the candy canes into chunks. Stir peppermint into melted white chocolate. Spread evenly in pan, and chill until set, about 1 hour. Break into pieces by slamming pan on counter.