1Make, bake and cool cake mix as directed on box for cupcakes, using water, oil and eggs.
2In large bowl, mix powdered sugar and butter with spoon or electric mixer on low speed. Stir in vanilla and 3 tablespoons of the milk. Gradually beat in just enough remaining milk to make frosting smooth and spreadable. If frosting is too thick, beat in more milk, a few drops at a time. If frosting becomes too thin, beat in a small amount of powdered sugar. Tint frosting with orange paste food color. Place 1/2 cup frosting in small resealable food-storage plastic bag; seal bag and set aside. Frost cupcakes with remaining orange frosting.
3Place 1 cookie, striped side down, on each cupcake. In microwavable bowl, microwave candy melts on Medium (50%) 1 1/2 to 2 minutes, stirring every 30 seconds. Dip snacks in melted candy; place upright in center of each cookie. Immediately decorate with candy sprinkles.
4Cut off tiny corner (about 1/8 inch) of bag of frosting. Pipe frosting around base of chocolate-dipped snacks to resemble ribbon band.