For some this question might be trivial.. but I am going to ask anyway... is there a special formula of ingredients that I should mix up when I want to pain on my fondant figures?

I don't have an airbrush machine.. so this option is out... but I should be able to paint directly onto them shouldn't I? and if so what should I use?

I just take petal dust, luster dust or Americolor gel colors, add a little clear alcohol (e.g. Vodka), and paint like you would paint anything. No real trick to it.

thanks I will try that...

I just use clear vanilla and it works. Although, lemon extract has a higher alcohol content and would work better.