Once the Santa Hat cupcakes are completely cool Prepare a baking sheet with waxed paper.

In a microwave-safe bowl, place the red candy melts. Heat in the microwave for 30 seconds and stir. Continuing heating in 30-second increments, stirring well after each. If the candy melts overheat or are not smooth enough to pour, add 1 to 2 teaspoons of coconut oil or vegetable shortening and stir well.

With your hand inside the ice cream cone, spoon the red over the cone but not overlap the bottom of the cone. Tap gently to allow the excess to drip back into the bowl.

While the red candy melts are still wet, top the cone with a marshmallow. Repeat with remaining cupcakes.

In a microwave-safe bowl, place the white candy melts. Heat in the microwave for 30 seconds and stir. Continuing heating in 30-second increments, stirring well after each. If the candy melts overheat or are not smooth enough to pour, add 1 to 2 teaspoons of coconut oil or vegetable shortening and stir well.

Holding the cone, spoon the white around the rim of the ice cream cone. Tap gently to allow the excess to drip back into the bowl Dip the cone into mini marshmallows. Allow the cones to dry completely.

Place on the prepared baking sheet to dry. When ready, place one Santa hat on each cupcake.