I need to cover a "1" with fondant tonight, and I am notsure what would be the best way to go about it.
I was thinking of either first covering the top with a exact cut-out of the one, and then covering the sides with a roll(like bandage) of fondant
OR
putting alarge piece of rolled out fondant over the whole thing, and then smoothing the sides....but I'm not so sure that this will work, given all the small corners???

Please give me some suggestions!

I think it depends on what way you handle your fondant! If you are a shortening'er go ahead and use one piece to cover the whole thing... the shortening will help it stay soft till you get it covered... If you're a cornstarch or powderer, it's going to dry out too fast for all those corners if you don't have help!

Your idea will also work... and you can crimp the edges together kind of like a pie crust... that's just another way to work it!

Thanks a million for the idea of crimping the edges together! Never thought of that!
By the way - I'm a "powderer" !

So I guess I will need to stay with the first procedure!