Polly, over at ReadyMade, pointed to this hilarious PEEP wreath (from Gerbera Designs). It’s so cute! Although I have to admit that I HATE PEEPS! Hate them. They are so gross, a stale Day-Glo excuse for a sugar vehicle.
I have however been wanting to make my own marshmallows. An there’s no harm in making them peep shaped, surely.
Here are a few PEEP making and marshmallow making tutorials. This marshmallow peep tutorial from Twig and Twistle is good, she uses cookie cutters instead of a pastry bag, and the peeps are so cute. I want them! 
Smitten Kitchen has a good tutorial for homemade marshmallows and I’m sure you would cut them into cute shapes.
I want a cup of spicy hot chocolate with a flower shaped vanilla marshmallow right now.
Thanks for the shout-out! How funny is that wreath? I am tempted to make one AFTER Easter, when Peeps are like 75% off. Yeah, I’m that cheap. Cheep cheep!