Heat oven to 350°F. Spray 13x9-inch pan with cooking spray. Press cookie dough in bottom of pan. Bake 20 to 25 minutes or until golden brown. Cool 30 minutes.
In large bowl, beat marshmallow creme and butter with electric mixer on medium speed until blended. Beat in powdered sugar until fluffy. Divide into 4 small bowls and beat in food color as desired. If necessary, beat in additional powdered sugar until spreading consistency.
Using sharp paring knife, cut cookie into shapes as directed on diagram. Place cookies on serving platter in monster shape. Frost and decorate as desired.