I am doing cupcakes for a wedding. The couple wants a nautical theme as they are going on a cruise and getting married in Nasau. They want some of the cupcakes topped with small anchors that I can mold out of chocolate, and some topped with small life preservers. I don't want to use lifesaver candies as they would inpart a peppermint taste to the cupcake. Does anyone have suggestions on how to make little life preservers about the size of candy lifesavers?

Use modeling chocolate or fondant - roll a "snake" and cut lengths of that, then attach end to end in a donut shape to look like the life preserver ring.

what about gummy life savers. they are fruity instead of minty.

OR, a bag of peach rings (I've used them as floaties for teddy grahams. they work well because they have stripes)

I made one by rolling fondant into a ball, flattening it, then using a circle cutter to remove the center...

You can see it here: http://cakecentral.com/gallery/1452673

...if done this way you won't have a seam where the ends meet, although adding the red trim would cover that up.