which is best? gumpaste or fondant for figurines. Thanks

I have tried both. The fondant did not hold it's shape well. The gumpaste works but dries quickly so work fast. You may want to consider 'modeling chocolate' (AKA candy clay) as that seems to work the best. Holds it's shape and can easy be manipulated in to different shapes. Modeling chocolate is super easy to make with chocolate and corn syrup.
Ingredients
  14 oz. Package of Candy / Chocolate Melts
  1/3 cup light corn syrup
Instructions
  Melt Candy Melts following package directions. Add corn syrup and stir to blend. Turn out mixture onto waxed paper and let set at room temperature to dry. Wrap well and store at room temperature until needed. Candy Clay handles best if hardened overnight.
  To Tint: Candy Clay may be tinted using Wilton Candy or Icing Color. Knead in color until well blended.
  To Use: Candy Clay will be very hard at the start; knead a small portion at a time until workable. If Candy Clay gets too soft, set aside at room temperature or refrigerate briefly. When rolling out Candy Clay, sprinkle work surface with cornstarch to prevent sticking; roll to approximately 1/8 in. thickness.
  To Store: Prepared Candy Clay will last for several weeks at room temperature in a well-sealed container.

Fondant works really well for me. I mix in about 1tsp of gum tragacanth powder per 500g fondant for extra strength (let it rest a few hours before using).

A lot of people use a 50/50 mix of fondant and gumpaste. Gumpaste is often too hard to work with and dries too fast, but a combination is workable and stays pliable for longer. I'm interested in experimenting with modeling chocolate, too. I've seen some wonderful things done with it, but I made some the other day that didn't turn out quite right. I've since gotten a better recipe, so I'm ready to try it again.

We always use a 50/50 mixture of both. Works perfectly every time

Thank you everybody for your input. I've tried with the fondant and found it cracked. I will try the 50/50 mix next time.

Marianna, let me know how it turns out when you try it. I'd like to give it a try myself.

Just fondant will sag. Just gumpaste and you have to work at break neck speed so it doesn't dry too fast and crack. 50/50 definitely.