Preheat oven to 350 degrees F (175 degrees C). Grease and flour pan. In a large bowl, beat together eggs, oil, sugar and vanilla. Mix in flour, baking soda, baking powder, salt and cinnamon, Stir in carrots. pour half of batter into prepared cavities. Bake 18-22 minutes until tooth pick inserted in center of cake comes out clean. Cool 10 minutes in pan; invert cakes onto cooling rack. Wash and prepare pan again. Repeat procedure with remaining batter.
For Frosting: In a medium bowl, combine butter, cream cheese, confectioners sugar and creamy. Place dollop of frosting on top of each cakelet. Garnish with additional carrots and nuts, if desired. Makes 24 cakelets.