1. Place the red and green sugars in separate shallow bowls. Spread a thin layer of vanilla frosting on top of the mini vanilla wafers to cover. Press the top of 12 wafers into the red sugar to coat. Repeat with the remaining 12 wafers and press into the green sugar. Set aside.
2. Cut 12 1-inch triangles from the orange slices to make the noses. Spoon the dark chocolate frosting into a freezer-weight ziplock bag. Spoon 1/4 cup of the vanilla frosting into a freezer-weight ziplock bag. Place the white decorating sugar in a shallow bowl. Spread the remaining frosting on top of cupcakes and make a smooth mound. Roll the tops of the frosted cupcakes into the white sugar to cover completely.
3. Add the cut orange candy as the nose in the center of the cupcake. Add the chocolate candies as the eyes. Snip a very small corner from the bag with the chocolate frosting and pipe a mouth. Add the pink sprinkles as cheeks.
4. Cut the licorice twists into 12 6-inch lengths for the bands of the earmuffs. Insert the 2 cut ends into either side of the cupcake for the headband. Snip a small corner from the bag with the vanilla frosting. Pipe a dot of vanilla frosting on either side where the licorice enters the cupcake. Add the like colored vanilla wafers as the muffs. Repeat with the remaining cupcakes.