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STEP 1: BAKE AND ICE CUPCAKES
Use the box mix to prepare the cake mix. Fill the cupcake liners about 1/3 full so that when they are fully baked, they are lower than the top of the liner. Let them cool completely. (Every mix and oven are different so it might be a good idea to test bake one cupcake to know exactly how much batter to put in the liners).
Place one tub of frosting in a microwave safe bowl. Heat for 10 seconds and stir and then heat again for 10 more seconds. Your icing should look like a thinned glaze at this point. Stir in 1/4 tsp of peppermint flavoring (or more if you like it really minty!). Spoon glaze on top of each cupcake and use your spoon to spread the icing to the edges. Tap the cupcake on the counter to help the glaze settle and look flat. (Your bowl of glaze will start to cool as you work, so just reheat briefly and restir as necessary before continuing). Place your iced cupcakes in the fridge until the icing is very firm, 30 minutes or so.
STEP 2: MAKE THE FONDANT PEPPERMINT STRIPES
On a surface covered with powdered sugar, roll out a small portion of red fondant about 1/8" thick. Use the " football cutter to cut out the pointy oval shape. Shift the cutter slightly and cut off 1/3 of the oval to make a swoosh shape. Make 5 or 6 of these for each cupcake.
Remove your chilled cupcakes from the fridge and position the swooshes on top, lightly pressing them into the icing to adhere. (If for any reason they don't stick, you can dab a little water on the back of the fondant pieces to help them stick). Use a craft knife or small scissors to trim the overhang. Place the cupcakes back in the fridge until very chilled again so that wrapping them will be easier.
STEP 3: WRAP IN CELLOPHANE
Trim the sealed end of the cellophane bag. Center a cupcake inside and pinch each side. Tightly wrap with a twist tie. Trim the two sides to match if they aren't the same length. Store them in the fridge if serving later.