This portion of the decorating is all up to you. I created this cake as a thank you gift so I kept it simple with stars and lettering.
Bottom Edge: For this I simply rolled different colors of fondant into small balls and positioned them around the bottom of the cake. Doing this covers up any mistakes that may have been made along the bottom and it makes the cake look clean.
Cookie Cutters: Cookie Cutters work awesome for fondant!! They come in all shapes and sizes and make the decoration process very quick. I used to cut shapes by hand but then I invested in some nice metal cookie cutters and it saves so much time!
In order to "glue" fondant decorations to the cake you can dab some water on the fondant and this will act as a glue. For instance, when I attached a star to the cake I would smear a very small amount of water on the back of the star and then stick it on the cake. This will insure that nothing will move.
Have fun decorating!!
I have made several fondant cakes over the past year, check them out at Mann Made Cakes on Facebook: http://www.facebook.com/?ref=logo#!/pages/Mann-Made-Cakes/133594456685056