HEAT oven to 450°F. Coat 12-cup muffin pan with no-stick cooking spray.
MELT butter in large skillet over medium heat. Add apples. Cook 10 minutes, stirring occasionally, until tender. Add apple jelly and brown sugar. Cook an additional 5 minutes, stirring often, until sauce thickens. Divide apples evenly into prepared muffin cups. Press puff pastry rounds on top of apples.
BAKE 10 to 12 minutes or until puff pastry is golden brown. Place baking sheet over muffin pan. Immediately invert muffin pan, releasing tarts onto baking sheet. Place on serving plates. Sprinkle with cinnamon. Serve with ice cream or whipped cream.