I would bake a sheet cake, cut into even strips , layer , freeze, then carve the taper. Dirty ice and cover in fondant.
I would make the handle in advance out of gumpaste with wire to support the shape.
Print out a pic, blow up the lettering , cut with an Exacto knife and apply to bag.
Thank you, im gonna make it about 7 inches high would i need to put something in it for support or will it be ok?
I am terrified of a cake collapse so I use extra support in everything I do. I would do a support, but as long as you don't use a dense heavy cake you could probably get away without support for a 7 inch tall cake.