I just read the tutorial on covering your cake with fondant...I am a little frustrated, though. Every time I roll out the fondant and lay it over the cake, there are ALWAYS portions that have excess fondant resulting in a fold or me having to snip the fondant and pinch to try to correct. Of course, you can always see where I snipped and pinched. What could I be doing wrong. It appears that I am correctly following the instructions in the tutorial. I am reposting a pic to show what I mean.
It looks like you might be rolling it a bit thin and a little bit too large. You do have to roll it out larger than your cake, but not much.
Once you have rolled out your fondant and have draped it over your cake, carefully lift the bottom and smooth from the top down. If you get a fold, lift the fondant and smooth it down. You have to work quickly and go around the entire cake at a steady pace. Continue to lift and smooth the fondant until you reach the base of the cake. You should have several inches that will need to be trimmed. Sometimes it helps to trim off some away from the cake, smooth some more and then finish the trimming.
Part of the reason for rolling fondant a little bit thicker than what you think it should be is that is has some stretch to it. The weight of it also pulls down on the fondant.
If you have cold hands, you can take a small chunk of fondant to polish your cake. I have very warm hands, so I just run my hand over the fondant very quickly. Then I finish it off with a fondant smoother.
You are welcome to PM me if you have any questions. I hope I didn't make it more confusing. I do that sometimes.
Best of luck to you.
Michele
have you tried elevating your cake? fondant can be tricky, and it takes alot of practice for most of us-
i find that if i place my cake on a piece of cardboard the exact size of the cake, ice it then elevate in on maybe a full coffee can (something not as wide as the cake) and drape the fondant over it. cut the excess except for a couple of inches so it is not too heavy. starting quickly on the top, smoothing down a bit at a time. i still end up with little folds sometimes, but this works for me much better.
Tomoore your fondant looks too thin for me.....I have mine about 1/4 of an inch. Then I always use Wilton's matt to measure the fondant and add for the cake sides. Next I lift it and flop it onto the cake like a quilt on the bed draping the sides outward. Start from the middle on the top to smooth and lift and fluff as I go.
One person on a CC thread mention fluffing a wedding dress. Smoothing from the top down. (Fluff out until you are ready for the bottom.) When I get to the bottom then I smooth in and trim with a pizza cutter. 
I still have my fondant mat from when I took the wilton class. I use the formula that my instructor gave me. It goes something like this 8 inch round + 3 inches for height (or what ever it is 2 inches ect) + 2 or 4 now that I am writting it down I cant remember. Total it up and it ends up 13 to 15 inches around. If you have the rolling mat it will show you the 15 or 14 inches around and roll it to that size. I hope this helps.
MC
Here's a tutorial using Moviechick00's method of measuring:
http://www.pastrywiz.com/wedding/wedding19.htm
HTH
ooh cool there is a website that has the method I use thats great!!! I dont think I was explaning it correct. I do this without thinking so having to write it down was hard for me. LOL 
MC
I guess we all have to find a way that works best for us. I bought the fondant lifter and have never used it. Tried elevating the cake and still found I got those folds of excess fondant. Now what I do is place the cake on a flat surface, cake turntable or countertop, I roll the fondant quite a bit larger or wider than the cake itself. Once I have the fondant on the cake I pull the sides of it out all the way around the cake so the edge of the fondant is about 2" away from the cake, and resting on the table or surface. Try not to stretch or tear it. Then, without moving or lifting the cake I smooth one section down with my hand from top edge of cake to the base of the cake, move on to the next section and do the same thing until I have gone all the way around the cake, smooth with a fondant smoother, then with a pizza cutter I cut off the excess fondant just at the cake board, all the way around the cake. Hope this will give you another option.
I guess we all have to find a way that works best for us. I bought the fondant lifter and have never used it. Tried elevating the cake and still found I got those folds of excess fondant. Now what I do is place the cake on a flat surface, cake turntable or countertop, I roll the fondant quite a bit larger or wider than the cake itself. Once I have the fondant on the cake I pull the sides of it out all the way around the cake so the edge of the fondant is about 2" away from the cake, and resting on the table or surface. Try not to stretch or tear it. Then, without moving or lifting the cake I smooth one section down with my hand from top edge of cake to the base of the cake, move on to the next section and do the same thing until I have gone all the way around the cake, smooth with a fondant smoother, then with a pizza cutter I cut off the excess fondant just at the cake board, all the way around the cake. Hope this will give you another option.
This was it! I followed your instruction and it worked like a charm this morning on two cakes. THANKS SO MUCH! This is truly the best site ever.
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