In a large mixing bowl, combine icing sugar, condensed milk, peppermint flavoring, and water. Mix until a stiff paste forms.

Evaluate texture; add more water if crumbly, or more icing sugar if too wet.

Dust a clean surface with icing sugar and roll out the mixture to 0.5 cm thickness.

Using a round cutter, stamp out 24 rounds and place on a parchment-lined tray to dry for 1-2 hours.

Melt the chocolate in a heat-proof bowl over simmering water until smooth.

Transfer melted chocolate to a piping bag and pipe over the dried peppermint rounds.

Refrigerate for about 10 minutes or until the chocolate is fully set.

Serve on a decorative platter or store in an airtight container for up to two weeks.