I want to make a male torso cake with a rkt "pecker". I never worked with the rkt with the fondant covering it. Do you mold the rkt into shape while it is still warm, or do you make the rkt in a sheet then carve out shape when it is hard? Thanks for any tips.

You can do either, but molding it is less messy, gives you a more realistic shape, and you can compress it harder.
Crushing the cereal on the outer layer will give you a less bumpy shape.
You can also coat it in candy clay, ganache or candy melts to help with any 'bumpy-ness.'

If you're using the regular recipe, be sure to cut the butter/margarine in half, or it's too soft.

If you shape it over a dowel, you have a nice 'lollipop' that can be taken out of the cake for the guest of honor.
Please feel free to ask if you have any questions .
Good luck!

Thanks! I didnt even think about cutting the butter amount in half. You just saved me a lot of time. I'll let you know how it turns out.