Prepare pizza crust according to package directions.
Divide dough into 2 portions. On lightly floured work surface, roll out each portion into rectangle shape, about 1/4-inch (5 mm) thick.
Using sharp paring knife or kitchen shears, cut 1 large triangular spike in the top centre of rectangle and 2 smaller triangular spikes on either side to resemble crown shape. Trim sides, so they narrow at the base. Using remaining pizza dough, roll into three 1/2-inch (1 cm) balls. Press balls into top of each spike to resemble jewels. Repeat with remaining rectangle.
Transfer each pizza crown to greased baking sheet. Spread pizza sauce over crust in circular motion to edges. Sprinkle with mozzarella and Cheddar.
Fold pepperoni slices in half; cut each slice into half-heart shape to make perfect hearts. Cut out different sizes of hearts as desired. Decorate pizza crowns with pepperoni hearts.
Bake according to package directions. Let cool for 5 minutes before serving.