Line a baking sheet with wax paper or parchment paper; set aside.
Into a microwave-safe bowl, squeeze ¼ cup of red Cake Mate Bakery Icing; microwave at 70% power in 10 second intervals until melted; stir in 1 teaspoon of water; stir to incorporate. Holding a Mini over the bowl, spoon melted icing over it to coat; place in prepared pan. Repeat for each Mini; set aside.
Repeat the melting process with blue icing. Once melted dip the bottom of each marshmallow in the icing and let dry on prepared baking sheet.
Using a star tip on the white icing, pipe stars around the blue border; pipe a drop of white icing in the middle of each prepared Mini and gently press each marshmallow on top.
Pipe red icing to make the stripes on the hat and coat top of marshmallow.