The way I'd do it would be once each tier is decorated, roll out your fondant to be about 2-3 inches larger in diameter than your tiers. You can measure this by using a cake circle set on top of your rolled fondant and then cut off your excess to about 2-3 inches larger. Then trim it with a pastry wheel or a sharp craft knife into the "waves". Because the tiers are relatively small, you should be able to pick up the fondant and place it on the cake, smooth it over and then attach it to the cake with a little water and/or piping gel. This is how I would do it, there may be other ways, but this way works for me! ) Good luck!
That is what I did on my TT on my photos.
Thanks, that makes sense.... for some reason I was picturing it being more invilved.