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Prepare and bake cupcakes as directed on the package. Cool completely.
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Add green food coloring to a tub of frosting and mix well. Place into a piping bag fitted with a 1M tip. Set aside.
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Use a melon baller to scoop a hole into the center of cupcake and reserve the top cake piece. Scoop a little more out and discard that cake. Fill with marshmallows and rainbow sprinkles and replace reserved top.
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Pipe frosting onto each cupcake and sprinkle with sprinkles. Serve immediately or store covered until ready to serve.