Aren't these adorable?! I discovered them on an Australian blog called "Planning With Kids".
Basically, the Marshmallow Teacup is a large marshmallow on a wafer type cookie. Atop the marshmallow is a multi-colored Nonpareil. The teacup handle is a Life Saver cut in half (Sweet Tarts are used in the first image above). Ingredients are held together with icing "glue". (Step-by-step instructions here.)
If you decide to give this recipe a go, do let us know!