Place the cold coconut water in a medium mixing bowl and sprinkle the gelatin over the top. Give a slight stir with the whisk to ensure all the gelatin gets covered by water. Leave to sit for about 2-3 minutes, or until thickened.
Pour the boiling coconut water over the gelatin and whisk until dissolved.
Add the sweetened condensed milk, cream of coconut, and coconut rum to the bowl and whisk until combined. If your condensed milk wants to not fully mix, heat the mixture for about 15 seconds in the microwave and then whisk again and it should fix the issue.
Fill each shot glass, leaving just a bit of head room at the top of each glass. This makes it easier to take back and forth to the fridge.
Place the shots in the fridge for 2 hours or until fully set.
When ready to serve, using the frosting bag and Wilton 1A frosting tip, top each shot with whipped cream by first filling the shot glass to the brim with the cool whip, pausing, starting a new pile on top, then doing this 2-3 more times until you’ve made a tall stack of cool whip on top of each shot. This isn’t a perfect science and each one will look a little different, which is part of the fun. If it doesn’t work out, simply use the back of a butter knife and scrape the whipped cream off the jello shot and keep trying. Remember to scrape the whipped cream back into the tub as it’s still usable and there’s no need to waste it.
Once you’re happy with the cool whip, use your tweezers to place two of the medium-ish balls as the eyes and one of the large sugar pearls as the mouth. Be sure to sink the mouth in a litter deeper than the eyes as it makes it look better. You’re finished! Serve and enjoy!