I just do mine with regular fondant, and drape it over the front of the cake. I used to dry mine and make them with gumpaste, but regular fondant, before it's dry, works great.
For the writing-edible marker. Works great.
Some people just have gorgeous handwriting (not me). You can use the edible markers or use tappits and royal icing. I've just ordered the lower case tappits, becuase, though my writing on paper is nice...I freak out when I have to write on a cake. HTH.
Yes the banner is gumpaste. You can write with food color markers or royal icing. Maybe someone else will have other ideas.
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