Remove bowl from pan, and with mixer on high, beat in icing color. Continue beating until very stiff peaks form, about 8 minutes. Spoon mixture into large, resealable bag, and snip 1/2 inch off corner of bag. Pipe 1-1/2 inch mounds that bend to one side like Santa caps about 1 inch apart on prepared baking sheets. Bake 1 hour, switching sheets halfway through. Turn off oven, and let caps stand overnight.