Well, Tiger, I found this on a Dejanews search:
from the big band newsgroup:
About 1978 I heard this on the Dr. Demento show and forgot the artist?
Do you also know the lable this record was on?

LYRICS: " Oh, he likes to nibble on my cupcakes they're just much too nice to go to waste.
They're smooth as silk they go with milk........
I've never had complainers
...........and there's a raisin on each tip."

From the dementia newsgroup:
Cupcakes - by Terri O'Mason (played 3/6/83, 1/15/84, & 10/9/88)

Not much, but maybe enough to start somebody thinking.
-Joe Offer-

Click here for a Doctor Demento megasite. Maybe you'll find a lead there.