Beat together butter and sugar in large bowl until light and fluffy. Beat in eggs, then pumpkin.
1/3 cup unsalted butter, 1 cup sugar, 2 large eggs, 1 cup mashed pumpkin puree
At low speed, beat in flour mixture alternately with milk until smooth.
3/4 cup milk
Spoon batter into prepared muffin-pan cups, filling each two-thirds full.
Bake in preheated 375 degree oven for 25 minutes or until a wooden pick inserted in centers comes out clean. Cool cupcakes in pan or on a wire rack 5 minutes. Turn cupcakes out onto rack to cool.
Tint frosting with food coloring. Frost cupcakes. Decorate as desired, using fondant (tinted, rolled out, cut into shapes), licorice, toasted coconut and other candies.