Place the first cake on 1 of the cardboard rounds on a rack over a sheetpan. While the ganache is still warm, pour over the cake. Using a palette knife sparingly, gently swipe 1 or 2 times to spread the ganache evenly over the top and so that it runs down the sides and covers them. Let the cake sit until the ganache sets up, about 30 minutes to 1 hour.
While the ganache is setting up begin making the wings. Cut the remaining cake in half, lengthwise. Cut the remaining cardboard round in half as well and place each cake half on one of the cardboard halves. Using the red buttercream and a palette knife, frost both halves completely. Try to make the frosting appear to be as smooth as possible. Place the black licorice rounds on the wings to make ladybug spots.
Once the ganache is set up, assemble the ladybug. Allow 2 inches in the front of the ganache cake for the ladybug's face. Place the 2 halves behind the 2-inch face with 2 corners touching right behind the head and at an angle to each other. The wings should be in position for the ladybug to fly away. Place the candy wafers on the ganache cake to create eyes. Using a small dab of leftover frosting, secure the candy coated chocolates to the wafers to make pupils. Cut the licorice whip to the desired length and lightly press into the ganache to create a mouth. Use the remainder of the licorice whip to create antennae. ***To cut this cake for serving, remove the wings and cut separately.
Recipe courtesy of Jill Novatt for Food Network Kitchens