I've been using Peggy's MMF recipe for years, but it seems so volatile (maybe based on the particular marshmallows I use, which can vary based on what I can find and for how much). I like it generally, but I need something better. I've tried non-marshmallow fondant (I think I used Michele Foster's recipe), but I didn't like it and I don't remember why. . . it may have been that it was not stretchy or elastic enough.
I also ALWAYS have trouble when I try to make chocolate (for making black) fondant--it ALWAYS cracks when I try to bend or work with it and is never stretchy/elastic (I can only compare it to the difference between pizza dough and sugar cookie dough--you know, how it breaks when you bend it, versus stretch and stay attached, like pizza dough). I've always attributed that to the properties of the chocolate.
Can someone who has tried many different homemade fondant recipes out there please share with me what you've settled on using and why!!??? I'm tired of being anxious every time I make my fondant to wonder whether it's going to behave or not!
I use MMF...I never make chocolate anymore. I just buy americolor super black and add that with the melted marshmallows when I need black fondant.
sometimes i'll knead in modeling chocolate ... i feel like it helps it maintain its moisture w/o compromising the elasticity.
i think there's no magic bullet for homemade fondant. there are many factors that can attribute you getting different results from someone else (e.g. ingredient quality, weather, the whim of the fondant gods...)
you might need to just find solutions to what you're experiencing specifically.
for dryness, keep on hand some shortening and glycerin ... those can help smooth fondant out.
for elasticity, i make sure to have fresh marshmallows (they are plump and spring back when you squeeze the bag) or i use a recipe that calls for gelatin (http://cakecentral.com/recipe/toba-garretts-fondant)
for black (or red or green ... bold colors), you can buy it pre-made, or try using powdered food coloring, or just painting it black (e.g. airbrush)
I use the fondant recipe in the wilton yearbook. I love the way it works, and I can flavor the way I want. For Red and black I buy premade unless I just need a tiny amount . As for Chocolate I buy that as well. I'm not sure how to make the wilton fondant chocolate! Plus as a hobby/ bake for family baker I don't need huge quantiites.
I do make a marshmellow fondant. But I don't find it as consistent, but I do like the taste so mostly I make it if I am covering cookies.
I make MMF and have recently started adding melted chocolate to the mix when I need brown or black. I used to use cocoa but it was so dry and crumbly that I had to use something else and I find the melted chocolate works a dream. Good luck!