I have seen other cake pictures showing there fondant covered board with cut out's in them. They have a cut out, and then fill it in with the same size shape with a different color. I was wondering, "When" I should do this. Do I have to cut the fondant as soon as I apply it to the board? Or can this wait until I am completely finished decorating the cake?
Any tips are appreciated.
I suggest you do it once you cover the board. Waiting will give the fondant time to form an outer shell and once that has happened, you may possibly get some cracks when you do your cutouts.