Preheat oven to 350°F.

Line muffin tin with paper cupcake liners; set aside.

Using a countertop mixer, mix the vegetable oil and sugar together until well blended.

Sift the remaining dry ingredients (flour, cinnamon, nutmeg, baking powder, baking soda and salt) together. Add this dry mixture to the bowl; mix until blended.

Add the eggs; mix until blended.

Add the carrots, ¾ cup of walnuts and raisins; mix until blended.

Pour batter into lined muffin tin, filling each cup a little more than ½ full.

Bake at 350°F for 23-25 minutes, or until toothpick inserted in center comes out clean.

Set cupcakes aside to cool before frosting.

Using a countertop mixer, cream together the cream cheese and butter.

Add the brown sugar, vanilla and cinnamon; blend until smooth.

Add the powdered sugar 1 cup at a time until desired sweetness and consistency is achieved.

Beat on high for 1-2 minutes, or until light and fluffy.

Place the remaining ½ cup of chopped walnuts on a baking sheet. Toast at 350°F for 4-5 minutes. (Note: Watch walnuts carefully as they will burn quickly!)

Once cupcakes have cooled, frost them as desired. (Note: Reserve about ½ cup of frosting for piping the carrots.)

Chop the toasted walnuts very finely and gently press into the edge of the frosting.

Finally, divide the reserved ½ cup of frosting into two bowls and color the frosting orange and green.

Using a pastry bag fitted with a #8 round tip, pipe a large carrot on top of each cupcake.

Using a pastry bag fitted with a #352 leaf tip, pipe a small leaf at the top of each carrot.