In advance: Make balloons. Tint fondant: 2 oz. each pink, yellow, green; 1 oz. blue. Roll out 1/8 in. thick as needed. Cut 1 small balloon for each cupcake (8 each in pink, green, yellow) using wide end of tip 109. Cut 3 large balloons (pink, green, blue) using smallest circle cutter from set. Let all dry overnight on cornstarch-dusted boards.
Use melted candy to attach small balloons to 3 in. cut Lollipop Sticks and large balloons to 8 in. Lollipop Sticks. Let set. Tie matching ribbon to large balloons and curl.
Bake and cool 24 cupcakes. Ice smooth. Position confetti sprinkles. Insert small balloons and picks. Assemble stand. Position cupcakes on stand. Insert large balloons into cupcakes behind topper.
* Combine Leaf Green with Lemon Yellow for green shown.
* Combine Lemon Yellow with Golden Yellow for yellow shown.
* Combine Royal Blue with Sky Blue for blue shown.