Balance the round bottom bowl or lettuce crisper lid inside another bowl with a flat bottom. Slice kiwi fruit horizontally about 3/8 inch thick. Cut out the white center of the fruit; discard. Place the kiwi in the center of the bowl.
Cut a 3/8-inch-thick slice off the end of a pitted black olive. Place olive slice in the center opening of the kiwi with the rounded tip touching the bowl. Place chunk pineapple pieces along the edge of the kiwi to create the iris of the eye.
Cut random lengths of red lace candy, leaving them long enough to extend over the edges of the bowl. Carefully place the red lace candy along the sides of bowl, touching the pineapple at the bottom and extending over the edges of the bowl at the top.
Place the stacked bowls on the freezer shelf. Very slowly pour water into the bowl until the bowl is one-third full. Freeze for 1 to 1-1/2 hours or until ice forms a firm layer and begins to turn white on the edges.
Add additional water to fill the bowl to within 1-1/2 inches from the top. Freeze 4 to 6 more hours or overnight.
Dip the bottom of the ice-ring bowl into a sink of warm water. Then slip the ice ring out of the bowl and place it in the punch.