I make tons of cookies and cookie boquets. If your using royal icing, they will be fine for about 4 weeks, as long as you put them in individual cello bags. The fondant is good for maybe a week. The problem is that it can get hard. It won't spoil though. I put fondant on my cookies after they have cooled. I use a find mist and spray them, then lay the fondant on. This gives you a chance to move the fondant into position and work with it a little. Here is one of my cookie boquets.
I baked (NFSC) all day yesterday because I am making cookie baskets for Thanksgiving. Will be wrapping them in plastic wrap today, and putting in an unheated room for delivery on Tuesday........no icing on these....... hoping they stay pretty fresh until the holiday. Think they will be OK?
I have not made cookies yet but can't wait to get started. Actually I've never made fondant or worked with it yet either. It doesn't sound too difficult tho. Which do you think is easier, fondant, royal or buttercream? Also my DH thinks I am out of my mind. Last week I went to Michaels and they had halloween stuff marked down to 90% off and I got 40 cutters for .90! This week I go bearing coupon and got the Christmas ones for 5.00! I had a 50% off coupon for A.C. Moore and got the Wilton 101 cutters for 5.00! I have cutters galore......lol!!! Now all I have to do is put all the tips I have gleaned from CC and start backing.
One more question....there is a recipe for royal that everyone is talking about....Antonia??????
Thanks all for your help!! 
I think if your just starting out, fondant would be the easiest because all you have to do is "cut and paste". It really is that simple. The problem with Royal is that you have to get it the right consistency if your going to cover the cookie. I love working in both, but I have a lot of experience.
fairytale - those cookies are increible!!! Such detail!!
I can keep gingerbread cookies wrapped and fresh for about 2 weeks max, but sugar cookies aren't nice at all after so long...even if they are wrapped. (The butter starts to go rancid and stinky in there!) I keep them for 10 days max.
I've stuck fondant onto cookies using a brushing of hot apricot or apple jelly first. YUM!
I always thought sugar cookies can last like a month or two?
4 weeks at the least.
I never experienced change of taste, i must say.
I wrap them in cello and then in a tupperware container and storage them dark and "cold"
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