I have never made fondant, and I'm going to try to this week for the first time. I want to make my daughter a cake in September covered in fondant. But I'm not sure how to do it. I mean I've seen the instructions on actually covering the cake and I found a recipe for Marshmallow fondant. I have one question though.
When I usually make a regular cake I bake the cakes, freeze them. Take them out and dirty ice them and then put it in the fridge for 30 - 45 minutes Then I do the rest of the icing and decorating.
So my question is this - do I dirty ice the cake and then put the fondant on it right away? Or do I dirty ice it, refrigerate it and then cover it? I have no idea! Help please!

You can crumb coat the cake and then put the fondant on or let it sit away. Either way, since your icing will probably crust before you can get the fondant on it, spray it with a little bit of water and the fondant will adhere to it nicely. Don't forget to let your fondant rest for 24 hours before trying to cover your cake. It will give you trouble otherwise.

I didn't know anything about letting the fondant rest for 24 hours. So you make it, cover and store it for 24 hours before covering your cake with it?

Yes. When I make it I place it in greased/oiled plastic wrap and wrap it up real good. You can make it even further in advance than that too. If you are going to color it all one color, go ahead and do that when you are mixing it. The colors will set up a little better that way. Then when you are ready to use it knead it on a greased until it is smooth. I don't use MMF anymore because people complained that it was too sweet. I use Michele Foster's fondant recipe from CC. It is a little more involved but tastes so much better and is well worth the extra work. Here's a link to the recipe. Hope that helps!

http://cakecentral.com/recipes/3663/michele-fosters-delicious-fondant

I like to have a generous buttercream layer under my fondant, so I crumb coat, refrigerate, and then do a full thick coat of buttercream. Then i put it back in the fridge for a couple of hours until it's really firm. I don't take it out until my fondant is rolled and ready. That's when I cover it. It's just a personal preference to have more buttercream underneath

If I want to color it more then one color - do I let it sit for that 24 hours and then split it and color how I want?
I will go check out the recipe you linked! Thanks!

I usually crumb coat it, and then put another coat over that before the fondant, let it crust, smooth it out, and then put the fondant on. Just because a lot of people in my family (only ones I make cakes for) don't like fondant and pull it off, so I want them to have a good layer of frosting left. GL, and remember, fondant can be very frustrating to work with at first but looks like some have linked you a good homemade recipe that gets raved about all the time.

Also, definately add your colors while you are making the fondant - not when its set up. It makes it soooo much easier than spending all that time kneading your fondant again, than the 3 min it takes to mix it in while you're making it.