Cake serves 12.
Spice or Gum drops — shape assorted fondant colors into cones, brush with water and roll in granulated sugar. Dry on cornstarch-dusted surface.
Wrapped Candies — shape colored fondant into balls with flat bottoms or rectangles; make slit in ends with tip of knife. Roll out additional fondant 1/8-inch thick; cut into strips about 3/4 x 1 1/2 inches. Brush one end of strip with water, pleat and insert into slit in "candy". Dry on cornstarch-dusted surface.
Lollipops — make ropes by rolling together 2 colored fondant logs and 1 white fondant log until it measures 24 x 1/4 inches. Roll completed rope into spiral coil and insert lollipop stick. Dry on cornstarch-dusted surface.
Bake and cool a 2-layer 6-inch round cake. Stack cooled cake layers on a cake board using buttercream icing as a filling; prepare for fondant by lightly icing cake with buttercream.
Roll out fondant, 1/16-inch thick. Cover cake with fondant; smooth.
Make multi-colored fondant ropes with 1 white fondant log and 1 colored fondant log (follow instructions for lollipops, above). Cut ropes and attach to top cake edge with damp brush; attach fondant "candies" where rope swags meet with fondant adhesive. Position additional fondant candies on top of cake and around border.