I was wondering how to make fondant/gumpaste carnations like the ones that are on the back of the wilton fondant student kit? Also what type of cutters do I need to make pointsettas or can I make do with some of the ones that I already have?

For carnations: make rounds - size depends on how big you want the flower; using scissors or craft knife slit it all the way around at about 1/4" or less; OR cut the round w/pinking scissors. Now put on a foam pad and use a tooth pick to roll each slit to ruffle it.
Make several of the lgst size, the progressively make them smaller for a total of about 6-8 layers; stack them together using a tiny, tiny bit of water to glue them. There are special carnation cutters that can be purchased.

Poinsettias are made from long, somewhat thin leaf cutters ....again there are special cutters available.
For the centers make tiny balls of green, poke a depression in the top which is filled w/an even smaller tiny ball of yellow; then top that w/a teeny, tiny red dot of fondant Make at least 7 of these for each flower.