1Heat oven to 350°F. Place mini paper baking cup in each of 48 miniature muffin cups. Make and bake cupcakes as directed on box for miniature-size cupcakes, using water, oil and eggs. Remove from pans to cooling racks. Cool completely, about 20 minutes.
2Meanwhile, in medium bowl, place chocolate chips and butter. In 1-quart saucepan, heat whipping cream and corn syrup to boiling; remove from heat. Pour over chocolate chips and butter; let stand 1 minute. Stir with whisk until smooth. Cover; refrigerate until spreadable, about 30 minutes, stirring occasionally.
3Frost cupcakes with frosting. Place 2 jelly beans on each cupcake for eyes. Press 8 licorice pieces into frosting on each cupcake for legs. Decorate with chocolate sprinkles.