AI was trying to color some marshmallow fondant that i made the other day. I was upset that the liquid red food coloring turned my fondant pink. I put so much food coloring that now I'm hoping I didn't ruin the fondant. I keep hoping that when I use it it will look somewhat red. I have both the gel food coloring and the liquid food coloring. It might be too late to do anything about my fondant (which is another question I have) but for future note, I'm wondering which is better so that I can get a rich color?

Also I was wondering can I still add more food coloring or will I mess it up?

It is very tricky to get the deep strong colours from white.  The good thing is that colours tend to deepen over time so it may yet develop into the colour you want. 

Liquid food colour tends not to be strong enough to give a good deep colour.  To get the colour strong enough you would need to add a lot (as you've discovered) and that will affect the consistency of your fondant.

The best thing I've heard is to add powder or gel colours in when you are making the fondant - that way you can always alter the amounts of the other ingredients to combat any change in consistency.  One thing you need to watch for is that some food colours have a nasty taste which is fine in small amounts, but in the volumes you would need for a strong red it can really affect the taste.  There are "no-taste" colours available, though.

I know a lot of people actually just buy certain colours of fondant pre-made (such as red and black) to ensure a good colour and end result without the hassle.

AThank you for your response. I am wondering if the amount of food coloring I used will affect the taste. I hope it doesn't. Today I saw the colored fondant. I didn't know there was a precolored fondant at the store. But now that I know this I might just buy it that way instead of trying make it the colors I want.

AIt's better to use Americolor for red, you can get it at Hobby Lobby and I just saw Joann is starting to carry it too. You can even add it to fondant you've unsuccessfully colored with Wilton gel and it will fix it.

There is a method of making MMF with colored candy melts that is great when you need bold colors.

You can also buy a very small quantity of pre colored fondant and add it to your homemade pink and it will fix it, it will also help with your consistency.

I only use Americolor GELs.

Agreed I only use AmeriColor Gels as well! A few months ago I bought some Wilton gels because they were on clearance at Hobby Lobby, now I know why!