Remove 42 chocolate wafers from the Ghirardelli bags and place onto a cutting board.
Using a microwave safe bowl, melt 1 cup of the chocolate wafers in increments of 30 seconds, mixing after each time until melted and smooth.
Scoop into the piping bag and set aside.
Place one unwrapped Reese peanut butter cup onto the cutting board.
Cut the tip off the piping bag and pipe a small dollop of chocolate onto the lower center of the peanut butter cup.
Place a pink wafer onto the chocolate dollop. This is the mouth and nose of the bear.
Pipe two dollops of chocolate above the pink wafer for the eyes.
Place two eyes onto the two chocolate dollops.
Pipe a small dollop of chocolate onto the "M" side of the "M&M" and then place onto the center of the pink wafer.
Using the small round fondant cut out a half shaped moon out of the bottom of the chocolate wafers..
Pipe a line of chocolate onto the cut part of the chocolate wafer.
Place the chocolate wafer onto the upper left and right corner of the peanut butter cup for the ears.
Repeat steps with remaining Reese cups.
Allow to dry for 10 minutes.
While the bears are drying, pipe frosting onto the cooled cupcakes.
Once the 10 minutes is up, carefully place the bears onto the middle of the frosting and lightly push down into the frosting.
Enjoy!