there are a few tutorials and arrticles on this site that show you how to cover your cakes in fondant.... this might help you ... the first time can be tricky if you don't know what to expect... also there are many great recipes on here for fondat if you are maiking your own... try michelle fosters recipe or rhonda's ultimate marshmellow fondant recipe
I'd suggest that if you've never used fondant before to start by using pre-made. That wy you'll get to know the texture and feel of fondant before trying to make your own. You can buy the Wilton stuff to practice with - I just wouldn't recommend eating it because it doesn't taste very good.
Here is the article on how to cover your cake with fondant.
http://www.cakecentral.com/article22-How-To-Cover-Your-Cake-in-Fondant.html
I have just a few simple tricks that really make things easier.
1. always have your hands coated with crisco while neading the fondant. I keep a little tub of it so when my hands dry out i just slap some more on there. This helps keep the fondant moist and doesn't crack.
2. get a disposable tea towel or coffee filter and mix equal parts of carn startch and conf sugar. shake the mixture over your work space where you will be rolling out the fondant-it really helps to keep it from sticking and will pull right off the work space.
3. The easiest way to attach it to the cake is using piping gel. I just use a small brush and brush on the top and bottom edges of the cake. It adheres great. You can also use the gumpast "glue" (made by mixing gumpaste and water-till runny) brush that on and it is like super glue-bt not on the teeth.
No one ever told me these tricks when I started with fondant and I really wish they had...would have saved me HOURS of aggrivation and frustration!!! 
Hope this helps...Pm me if you have any other questions
*MMF is fondant...much easier to work with than Store bought Wilton. I use Satin Ice for hard to make colors such as red or blue.
-Ashley
Those are great hints. Thanks for sharing. I think I'm going to try my hand at fondant soon.
These are great tips. I hope to try fondant soon!
I'm using fondant today for the first time also, i just got the wilton stuff. I am too scared to cover my whole cake and i am just doing little details with it. My cake will be frosted with butter cream, will my cut outs stick to that?
What if you roll it on parchment will it stick? I was just experimenting today really to see if i can do it, lol. 
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