!!?? LOL Whats the difference between that and fondant?
Gum paste is basically pastillage with gum tragacanth added, allowing more time to work before it hardens. It dries fairly rigid. Gum paste is pretty versatile and is stronger than Fondant. It can be rolled very thin, and used for making flowers or molded into figurines, trees, and animals. Fondant is usually tastier and softer, and usually used more for covering cakes, but can be used for some decor as well.
There is no such thing as a stupid question, we all have to start somewhere right? Hehe.
Gumpaste dries hard fairly quick and holds is shape--that being said, it is great for making figures and accents to your cake. Fondant in the other hand doesn't dry out as fast as gumpaste, making it a great medium to cover cakes. Fondant will dry out but it may take days or even weeks, depending on how it is used.
Good luck.
To me, gumpaste is just fondant that dries hard. 
Of course there is more to it that that, gumpaste is almost like gum in texture, very stretchy and can be rolled really thin. It dries very, very quickly, so much so that you must cover it immediately unless you are ready for your creations to be dry. It makes wonderful, life-like flowers.
If you want to get some ideas on what you can do with gumpaste as far as making flowers and things there are a lot of tutorials on youtube that are great. Just go to www.youtube.com and type cake decorating tips in the search box. I like Tonedna. Her tutorial on roses is fantastic.
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