Several days in advance, tint fondant rose, blue and yellow; roll out 1/8-inch thick. Cut circles using largest Round Cut-Out; cut across circle, slightly more than halfway. Using smallest Round Cut-Out, cut scalloped edge; with spatula, score umbrella rib lines. Let dry on waxed paper covered cake boards. Reserve remaining tinted fondant. Attach dried fondant pieces to lollipop sticks with Fondant Adhesive. Roll a 1/4-inch ball of matching fondant; attach to umbrella top with adhesive. Let dry.
Preheat oven to 350°F. Prepare cake mix following package instructions; place batter in Pastel Silicone Baking Cups supported by cookie sheet. Bake 18-20 minutes or until toothpick inserted in center comes out clean; cool completely. Ice cupcakes smooth with icing; sprinkle with Heart Drops. Insert fondant umbrella. If desired, tie ribbon around stick.
* To make Fondant Adhesive for attaching dried fondant decorations to lollipop sticks, knead 1/4 teaspoon water into 1 ounce (1-1/2-inch ball) rolled fondant until it becomes soft and sticky. Apply to fondant decoration with brush or place in decorating bag and pipe it onto decoration.