Preheat the oven to 350 degrees. Line 18 standard muffin tins with cupcake liners.
In a medium bowl, combine the eggs, water, and oil. Whisk to combine. Add the cake mix and whisk until fully combined. Divide the batter evenly among the prepared muffin tins. Bake for 15-17 minutes or until a toothpick inserted in the center comes out clean. Let cool completely.
Frost the cupcakes and sprinkle the tops with sprinkles. Cut the straws in half, open the umbrellas and slide the straw onto the umbrella. Insert one umbrella in the middle of each cupcake. Place 3 or 4 K-Kritters on each cupcake in a circle, as if the animals are part of a carousel.