Lightly grease cookie pan cavities with vegetable shortening. Knead pink or red fondant until soft and smooth; press into prepared pan cavities. Let set a few minutes; remove to cornstarch-dusted cake board and let dry. If desired, attach lollipop stick to back with melted candy.
Roll out pink and red fondant to 1/8 in. thickness. Cut desired hearts using Cut-Outs and Cutters. For multi-layered plaques, attach cut-outs to each other using damp brush. Let dry on cornstarch-dusted cake board.
Line muffin pan with baking cups. Fill 1/2 to 2/3 full with your favorite cupcake recipe or batter from a mix. Bake following recipe instructions. Cool completely.
Spatula ice the tops of the cooled cupcakes with rose tinted buttercream icing. Or, make a 1M swirl of buttercream icing on top of cupcake. Insert fondant plaque into icing.