Generously spray a silicone pumpkin mold with cooking spray. Place on a baking sheet and set aside.
Pour 1/3 cup of cold water into the bowl of an electric mixer and sprinkle the powdered gelatin on top. Let sit for 5 minutes.
Place the sugar and ¼ cup cold water in a small pot and set to medium-high heat. Stir until the sugar has melted.
Attach a candy thermometer to the pot and boil the sugar until it reaches 238F. Brush the sides of the pot with a wet pastry brush if sugar crystals stick to the sides. Remove the pot from the heat and stir until the sugar stops boiling.
Add the hot sugar to the gelatin and stir the mixture by hand whisking for a few minutes to slightly cool. Then beat with an electric mixer on medium-high speed for 8-10 minutes, until soft peaks form. Add the vanilla bean seeds or extract and mix until combined.
Working quickly, divide the mixture into 5 bowls and dye it pink, orange, yellow, green and blue. Spoon the marshmallow mixture into piping bags and snip off the ends, creating medium-sized holes.
Pipe the marshmallow into the pumpkin mold, creating one pumpkin per color. Leave the marshmallows to set overnight, for at least 6 hours, until bouncy and set when poked with your finger.
Gently unmold the pumpkins and place them on a baking sheet.
Unwrap the tootsie rolls and microwave them for 20-30 seconds, until malleable. Cut each tootsie roll in half and roll the halves into pumpkin stems, with one flat side and one pointed side. Stick the stems pointy side-down into the center of each pumpkin.
In a small bowl, combine the corn starch and powdered sugar to create the sugar coating. Place it in a mesh sieve and dust it over all sides of the marshmallows. Return the excess sugar coating to the bowl and bounce the marshmallows in the empty mesh sieve a couples times, to remove any excess powder.
Serve the marshmallows in a big cup of hot chocolate and enjoy!