1. Preheat oven to 350 degrees. Line the cupcake pan with paper liners. Set aside.
2. In an electric mixer fitted with a paddle attachment, beat the cake mix, pudding mix, water, oil and eggs on medium speed for 2 to 3 minutes or until well blended. Scrape the sides of the bowl and mix again until all the ingredients are incorporated.
3. Using a cookie scoop, fill each paper liner with batter to fill the liner about two-thirds full, dividing evenly between cupcake trays.
4. Bake the cupcakes for 18-20 minutes or until a toothpick inserted into the cake comes out clean, or tops spring back when lightly touched. Remove the cupcakes from the oven and place the trays on wire cooling racks for 5 minutes. Take the cupcakes out of the trays and allow them to cool completely on the wire racks before decorating.
1. Combine the margarine/butter and shortening in the bowl of an electric mixer; using a paddle attachment, beat on medium speed until smooth, about 2 minutes.
2. Add half of the confectioners’ sugar and continue beating on low speed for an additional 2 minutes, or until the mixture is creamy, scraping the sides of the bowl with a rubber spatula as needed. Add the remaining confectioners’ sugar, vanilla and milk, and beat until the frosting is creamy and fluffy, about 2 minutes more.
3. In a separate bowl, divide icing in thirds. Color one whole bowl a sky blue. 1/3 icing to make rainbow colors and leave last 1/3 of the bowl white.
Cupcake Decorating Directions:
1. Using a decorating bag fitted with a large round tip filled with blue icing, pipe circle onto cupcake starting from the outer edge working your way into the middle, carefully covering the entire surface of the cupcake.
2. Using a decorating bag fitted with a star tip.Using the previously colored rainbow icings, use a knife to drag each color up the side of your pastry bag. Fill the center of your bag with white icing. Twist the bag closed. Pipe the frosting in a circular motion around the top of the cupcakes making a rainbow arch.
3. Using a decorating bag fitted with a large round tip filled with white icing, pipe circle "clouds" at one end of the rainbow.
Using unwrapped rolo candies, pipe small dot of icing onto top of rolo. Dip rolo in gold sanding sugar to create miniature pots of gold.
4. Place one pot of gold candy at the end of each rainbow.