Tint frosting pink or blue, using 4 drops red or 4 drops NEON blue food color. Place coconut in resealable plastic bag. Add 4 drops red or 4 drops NEON blue food color to coconut in bag; shake until coconut is evenly tinted.
Spread top of each cupcake with tinted frosting. Press each cupcake into tinted coconut to cover top completely. Spread donut holes with remaining frosting. Press a donut hole into top of each cupcake to form the bunny’s head.
For the ears, cut a 1/4-inch slice off the flat ends of each marshmallow to make 24 slices. Dip cut sides of the marshmallow slices into the coconut until completely covered. (Reserve remaining marshmallow pieces.) Attach 2 marshmallow slices to the head of each bunny with frosting to create ears.
Press a jelly bean half into the face for the nose and sprinkles for the whiskers. Use the chocolate chips for the eyes. Press the plain marshmallow pieces into the cupcakes for the belly.