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Preheat oven to 350°F. Trim off the bottom 2 to 3 inches of the ice cream cones. Wrap bottom of cones in small pieces of greased foil. Place cones in muffin pans sprayed with no stick cooking spray. (Cones should be slightly taller than muffin cups.) Set aside.
Prepare cake mix as directed on package, adding yellow food color and lemon extract. Pour batter into cones. Bake as directed on package for cupcakes. Cool cupcakes on wire rack. Remove any excess cake from bottom of cones.
Tint frosting with desired food colors. Frost cupcakes. Attached string licorice for the basket handles. Decorate cupcakes with coconut and jelly beans.