Prepare cake batter according to package directions, using two greased and floured 9-in. round baking pans. Bake at 350° for 25-30 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before removing from pans to wire racks to cool completely.
Cut one cake in half widthwise. (Save the second cake for another use.) Cut a notch from the center of each cut side to define outer edges of wings. Cut corners of wings so they are slightly rounded. Let cake stand for 2 hours.
On a serving platter, position cake halves on each side of sponge cake. Frost top and sides of butterfly with chocolate frosting. Cut licorice into two small pieces; push ends into top of sponge cake for antennae. Decorate with candies.