1Heat oven to 375°F. In medium bowl, stir cookie mix, butter and egg until soft dough forms. Roll dough in 24 (1-inch) balls. On ungreased cookie sheets, place 2 inches apart.
2Bake 10 to 12 minutes or until edges are light golden brown. Immediately place marshmallow on each cookie. Remove from cookie sheets to cooling racks. Cool completely, about 15 minutes.
3In microwavable bowl, microwave frosting on High 30 seconds. Stir; frosting should be a thick spoonable glaze. Stir food color into frosting, adding more if needed to achieve desired color. Spoon warm frosting over each cookie, coating completely and allowing excess to drip off. Let stand 20 minutes to set.
4Roll chocolate candies into ropes. Flatten with rolling pin into 1/8-inch-thick ribbons. Cut into strips with scissors to resemble hat bands; arrange around base of marshmallow on each cookie. Cut gumdrops crosswise in half (reshaping as needed). Press cut side onto hat band. Lift cookies onto serving platter with pancake turner, leaving excess frosting behind. Store in airtight container.