Here's what I came up with
Materials
Card stock - Basic Black, Whisper White (Stampin Up) Green (Michaels)
Ink - Black (Stampin Up)
Stamp Set - All Holidays (Stampin Up)
Dies - Circle, Scallop circle (Nestabilities), Big Bold Cupcake (Stampin Up)
Embossing Folders - Spots & Dots (Cuttlebug), Lines (Sizzix)
Rhinestones - Gray, Green (Michaels)
Instructions
1. Create card from card stock - finished size is 5 x 5
2. Cut green and white squares and adhere to card
3. Stamp sentiment on white square
4. Cut green cupcake top and black cupcake bottom in die machine, then run through each on in embossing folder
5. Adhere cupcake top to cupcake bottom with foam tape then adhere to card with foam tape
6. Adhere rhinestones to scallop circle and cupcake top