Preheat your oven to 375F (190C). Lightly grease a 12-cup muffin tin.
In a large skillet over medium heat, cook the ground beef until browned. Drain any excess fat.
Add the taco seasoning and water, and simmer until the mixture thickens. Remove from heat.
Place a wonton wrapper into each muffin cup, pressing it into the bottom and up the sides.
Add a tablespoon of the seasoned ground beef into each cup, then sprinkle with cheddar and Monterey Jack cheese.
Add another wonton wrapper on top of each cup, pressing down gently.
Repeat the layering process with the remaining beef and cheese.
Bake for 10-12 minutes, or until the wonton wrappers are golden brown and the cheese is melted and bubbly.
Remove the taco cupcakes from the oven and let them cool slightly in the pan before transferring them to a serving platter.
Top each taco cupcake with diced tomatoes, shredded lettuce, black olives, and green onions.
Add a dollop of sour cream and a spoonful of salsa on top of each for the perfect finishing touch.
Serve these Taco Cupcakes warm, and enjoy the playful yet delicious take on traditional tacos!