Preheat the oven to 350º F.
In a mixing bowl, add all wet ingredients (up to the butter) and mix on medium speed.
Gradually add in the dry ingredients, turning the mixer to low to add these. Once they are blended, increase the speed to medium.
Add paper cupcake liners to a muffin tin. Fill each ¾ full of the batter.
Bake for 20 minutes until done.
Remove the cupcakes from the oven. Take the cupcakes out of the tin and put onto a cooling rack to cool off.
In a mixer, add powdered sugar. Add powdered sugar, food coloring of choice, and milk. Mix on low. Add more milk gradually until you get the consistency you want for your monster frosting.
Pipe the frosting onto the cupcake and decorate with googly eyes, red sparkle gel frosting, and a candy knife. (All of these are by Wilton.)