Bake cupcakes according to box directions. Allow to cool.
Prepare pudding mix according to the box and add a few drops of red food coloring and mix together.
While the pudding mixture is still runny pour it into a squirt bottle (I used a ketchup bottle from the dollar store).
Poke a hole in the middle of the cupcake with the squirt bottle and squeeze the pudding mixture into it.
Place the cupcakes in the fridge for about 5-10 minutes.
Add blue food coloring to the vanilla frosting and mix together.
Frost the cupcakes with the frosting.
Place a gummy shark inside the gummy ring and set on top of the cupcake.
You can serve on a platter and surround the cupcakes with additional gummy sharks and rings for presentation and to eat.
Enjoy the cupcakes!