Prepare cupcakes as directed on back of package adding in 2 Tablespoons Red and 2 Tablespoons Blue Sprinkles in batter before baking.

Make the frosting: In the bowl of an electric mixer, combine sugar, egg whites, water, and cream of tartar. Whisk until foamy. Set bowl over a pan of barely simmering water and whisk until sugar is dissolved and mixture is warm to the touch, about 3 to 5 minutes. Transfer bowl to stand mixer fitted with a whisk attachment. Beat on high speed until frosting forms stiff peaks, about 12 to 16 minutes. Add vanilla and beat until combined.

3. Transfer frosting to two large pastry bags fitted with 1/2-inch round tips. Leaving a 1/8-inch border on each cupcake, pipe a spiral of frosting into a 2-inch-high cone shape, using about 1/3 to 1/2 cup frosting per cupcake. Transfer cupcakes to a baking sheet, and refrigerate while preparing the chocolate coating.

4. Make the chocolate coating: Combine chocolate and oil in a medium heat-proof bowl set over a saucepan of barely simmering water; stir until melted and smooth. Transfer to a small (deep) bowl, and let cool about 15 minutes.

5. Holding each cupcake by its bottom, dip cupcake in the chocolate to coat frosting, allowing excess to drip off. Transfer to a baking sheet filled with a wire rack. Spoon more coating around edge of cupcake and any exposed frosting; none of the frosting should show. Let cupcakes stand at room temperature 15 minutes.

6. Place cupcakes on a serving platter, and refrigerate for 30 minutes to let coating set. Cover, and refrigerate 2 hours more. Serve cold. Cupcakes can be refrigerated up to 3 days.