1. Unwrap all peanut butter cups and place upside down on a baking sheet.
2. Cut each rectangular graham cracker into a square shape if desired or use as is.
3. Place ¼ cup chocolate frosting in piping bag with small tip and pipe small dot on top of bottom of peanut butter cup.
4. Attach graham cracker on top of frosting to create the graduation cap.  Using the remaining ¼ cup of frosting in the school color of choice, place frosting in a piping bag with tip #5.
5. Create a tassel on one side of the cap.

Store in a sealed container until serving.  Can be made one day ahead.