1. Press peanut butter cups, large end down, on top of cupcakes, adding a dot of frosting to secure if necessary.
2. Pipe a dot of chocolate frosting on top of each peanut butter cup and add chocolate mint as the mortarboard.
3. For tassel, starting from center of mortarboard, pipe several lines of blue frosting, allowing frosting to overhang edge of chocolate.
4. Press a blue candy on top.
5. Arrange cupcakes on a platter in two rows.