I just discovered this website and I hope you can help.
I want to try my first batch of fondant:
1.) Which is better-MFF or buttercream fondant?
2.) Do I make one big batch and break it down into smaller balls for the different colors?
3.) Is it possible to over knead the fondant?
4.) Any tips for a first timer?

Thanks so much!

In order of your questions:

1) Do you mean rolled buttercream? And better? How better? Taste, to work with...

2) Depending on the color you are after. For MMF and dark colors it is better to add your color (at least part of it) after you take the marshmallows out of MW. It is easier, you get no streaks. For soft colors or less work, I make a big batch and break it down.

3) No, no gluten there to develop. It gets better with more kneading.

4) All fondant has lot of sugar in it, and the amount depends partly on where you live and air humidity. The same if you make fondant ahead.
Give less sugar then in your recipe. Make it softer, let it rest. After this, you can give more sugar if you want. Going back is more complicated.