To make an icing that gives the appearance of rolled white fondant, but tastes great, you can use Marshmallow fondant, often referred to as MMF.
INGREDIENTS
500g. mini marshmallows
2 T water
1/2 tsp salt
2 tsp lemon juice (fresh or bottled)
2 tsp corn syrup (helps w/ pliability) available on Kiwicakes website
1 tsp vanilla
1/2 tsp lemon extract
1kg icing sugar, sifted (aprx 7C)
Vegetable shortening (Kremelta or Crisco)
Method
Grease microwave proof bowl with Kremelta. Also grease wooden or heat proof spoon. Pour marshmallows and water into bowl. Microwave for approximately 2 minutes stopping and stirring at 40 second intervals. Mixture should be soupy. (if you want pink fondant, just use pink/white marshmallows.) Take out of microwave and immediately add corn syrup, lemon juice, salt and extracts. Stir well. Sift confectioner's sugar into mixture, one cup at a time. After approximately 5 cups, grease your hands well with Kremlta and knead the mixture in the bowl. Add the sixth cup and continue to knead. Now grease your work surface well and turn mixture out of bowl onto counter. Sift remaining sugar, regrease hands, and knead well. If mixture seems soft, add one additional cup of icing sugar. Shape into a mound and put a coating of Kremelta on outside. Double wrap in cling wrap and insert into zip-lock bag. Press air out of bag and seal. Allow to rest overnight, but, can be used after sitting for a few hours