I bought a zipper and used it to make an impression in the fondant. There are many types of zippers at the fabric store. The one I bought had thick metal teeth so I could make a good impression.
I've attached a picture of the top of my cake. You can see the whole purse in my photos (I wish I had taken more time to get better pictures but I was running late).
HTH
I made an impression of a zipper in gumpaste. When that dried, I pressed a strip of fondant into that giving an actual raised zipper.
I also pressed a real one into fondant...you can see it here: http://cakecentral.com/modules.php?name=gallery&file=displayimage&pid=1557011&sub=1557015
For another option, Petal Crafts has a zipper mold. Here is the link.
http://www.petalcrafts.com/zipper-mold.html
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