Cupcake Stand made from styrofoam cake bases and decorative papers... great idea! If you add a clear layer of contact paper (or laminate the paper) it would provide a "wipeable" surface for continued usage.
TUTORIAL: Easy Paper Cupcake Stands
How to create card stock cupcake stands! Much cheaper than buying them all! Looks relatively simple. Would be very cute to have a cupcake at each table - additionally will prevent guests from taking more than one. Maybe in white card stock with a Navy bow.
free printable DIY cupcake stand...you could always use the printout as a template and cut out of whatever paper you like!