it will last stored in an airtight container for about 30 days. just heat it in the microwave for a few seconds before using it to soften it up again.
Do you store it in the fridge or on the counter?
Also, once I have molded my shapes, how long can I store it and how do I store it? I want to make all the figures in advance but don't want them to be "bad" when eaten.
store it in on the counter, it doesn't need to go in the fridge. i would say your shapes will be fine for a couple days too. just remember that molded fondant will harden as the days pass... generally a good thing for molding because you know they'll hold their shape. but i don't know that anyone will want to eat them anyway. pure fondant isn't appetizing to many people.
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