A good recipe for fondant is Rolled Fondant from the Food Network, which calls for confectioners' sugar, gelatin, cornstarch, glucose and glycerine. If the glucose and glycerine are difficult to find, another good recipe uses light corn syrup instead.
To make Rolled Fondant, simmer 1 tablespoon of gelatin and 1/4 cup of water until the gelatin dissolves, then remove the saucepan from the heat, and stir in 1/2 cup of glucose or white corn syrup, 1 1/2 tablespoons of glycerine, and 1 teaspoon of vanilla or another flavoring of choice. Pour the mixture into a non-metal bowl with 2 pounds of sifted confectioners' sugar. Mix the ingredients, then knead the fondant into a ball, and cover it in plastic wrap. Keep the fondant at room temperature for eight hours before unrolling it.
A simple basic fondant recipe requires just 2 cups of granulated sugar, 1/2 cup of water and 2 tablespoons of light corn syrup. Combine the ingredients in a saucepan, and simmer at medium-high heat until the sugar dissolves, then cover the pan, and bring the syrup to a boil. After three minutes, uncover the pan, and continue to cook the syrup until a candy thermometer reads 240 degrees Fahrenheit. Pour the syrup into a baking sheet, and allow it to cool down for several minutes before working it with a metal spatula and then your hands.