Place the green melting wafers into a bowl over a pan of hot water, also known as a double boiler, until they are melted, 3 to 5 minutes.
Dip the donut holes one by one into the bowl of melted green candy while it is still on the double boiler; lift out with a fork, letting the excess drip off. Place on the sheet pan. Secure a candy eye to the middle of each coated donut hole.
Melt the red melting wafers according to the package instructions, approximately 2 minutes in a microwave or 3 to 5 minutes over a double boiler. Put the melted red candy into a piping bag and snip off the end.
Pipe vertical lines of the melted red candy on the donut holes to resemble veins.