Coat a 9" x 13" pan with nonstick spray and set aside.
In a small bowl, whisk gelatin powder and ½ cup cold water. Let soften 5 minutes.
In a medium saucepan, combine sugar, ¼ cup agave syrup (or light corn syrup), and ¼ cup water. Bring mixture to a boil over high heat, stirring occasionally. Cook until syrup temperature reaches 240° F.
While syrup is boiling, pour remaining ¼ cup agave syrup (or light corn syrup) into mixer bowl. Place gelatin mixture in microwave for about 30 seconds, or until the mixture is completely melted. Add gelatin mixture to mixer bowl. Turn the mixer on low and keep it running.
Once syrup reaches 240° F, take off the heat and pour carefully into the mixer bowl while mixer is still running on low. Don't worry about scraping out the saucepan to get every last bit, just focus on not burning yourself! Be VERY careful not to touch the syrup, as it will stick to your skin and could cause serious burns.
Increase mixer speed to medium and beat 5 minutes. Increase the speed to medium-high and beat 5 more minutes. Then increase the speed to the mixer's highest setting and beat for another 2 minutes. Mix in vanilla bean paste (see note) until incorporated.
Pour the marshmallow into the prepared pan, spreading the marshmallow into the corners of the pan and smoothing the top with an offset spatula. Let marshmallow set up at room temperature for at least 2 hours.
After the marshmallow is set, grease cookie cutter and cut out shapes. Coat each of the marshmallows in colored sugar.
Once all the marshmallows are coated, melt a small amount of chocolate in a microwave-safe bowl on 30 second bursts until smooth. Cool slightly.
Pour chocolate into a small zip-top bag, cut a very small piece of the corner of the bag, and use the bag to pipe the eyes and nose on each marshmallow.Enjoy!
Notes
Note on vanilla bean paste: One of my favorite ingredients! I love the flavor and the gorgeous black flecks it leaves in the marshmallow. If you'd like to get yourself some, you can find it here. If you'd prefer, you can substitute with an equal measure of vanilla extract.