The cheapest, fastest way that I have found was told by Edna: take a ball of fondant, roll in your hands for a bit, then roll on counter-top between 2 dowels the same thickness you want to end up with. I roll out fast and precise and do this when I need a long strand or to mold pearls, etc. Awesome.
I remembered learning this in early elementary school when playing with clay. That way, you don't get lumps from your knuckles. Perfect results every time. Guaranteed. I love Edna.