Here's one I did last month.
http://cakecentral.com/gallery/2049608
I rolled out the black and just started cutting it in squiggle and "Y" patterns. I then brushed the cake down with a little water and started applying the stripes. I just wish that I would have rolled the black a little thinner.
I have done the zebra pattern the way the other posters have said, but I have also done it so the fondant was smooth and the stripes were not raised as in the other method. To do this you have to prepare a bit.
First, roll out your black pretty thin and cut out your zebra stripes and make sure to cover them so they don't dry out.
Then roll out your white fondant a bit thicker than what you want your finished thickness to be.
Then, I add a very light coating of shortening to the white and then quickly add the black stripes and roll.
If your black and white fondant is not still really pliable the black will not adhere. It would probably be a good idea to try it out in a small scale and see if it works for you. If not, the other method works just fine. HTH
I did it the lazy way...just painted the stripes on. It was fast and came out looking pretty good.
It's all in how you want the finish... I prefer to roll out my background color and then cut random sized stripes, a little thinner because when you roll into the background color they will widen a bit. Place your stipes, roll over the entire thing with just enough pressure to recess the stripes into the background. Then voila cover your cake and you have a nice crisp smooth layer.
I have also done it by just laying stipes on after I have covered the cake in fondant and it looks good too, after all from a distance you can't really tell, I just prefer the more polished look of the other method.
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