Frost cupcakes and sprinkle with jimmies. If necessary, microwave candies on high for 3 to 5 second intervals to soften. Form green candies into champagne bottles. Cut squares from white candies to form labels; press gently onto bottles to attach. Brush bottle tops with pearl dust.
Shape white candy into champagne flutes. Cut thin strips of red candies; twist to form streamers. Decorate cupcakes with bottles, champagne flutes and streamers as desired. Store in an airtight container.