So I've done all my research and I think I'm ready for my first transfer, which I will be working on tonight. Just incase I'm wrong I thought I might ask if anyone has some tips or tricks I may have missed.

I've attached a pic of what I'll be working with.

The main thing is to remember to do it backwards...and you have that covered!! Best of luck - enjoy!!!

Make sure the icing you use to outline with is thicker in consistency than what you use to "color in" with.
If your icing that you color in with is too thick, you'll have furrows when you flip it over, but your outlining icing needs to be at least toothpaste thick, if that makes any sense....my coffee hasnt kicked in yet lol

there's a great tutorial on here but I can't find it
here's one I made on my blog if you want to take a gander! (its the cake in my avatar, very easy transfer image)
http://noshings.blogspot.com/2009/01/making-rainbow-cake.html

can't wait to see how it goes, it sure is a cute image =)

I don't think I've read anything about the thickness, so thanks for that. Are you talking like thick in constistancy or in width?

Nevermind, I read the blog, and that cleared up my question...thanks again

Consistancy, so that it walls in the icing you use to color in with =)
Also, I like to put the transfer in the freezer between most of the steps to make sure everything is stable.