When I cover my cakes with fondant they look like the photo below...

It looks like there's a few air pockets & it's bumpy, not very smooth. I tried crumb coating with very little Buttercream & I also tried adding more, but when I add more it oozes out the bottom. Maybe I'm rolling out my fondant too thin? Why is this happening (& how do I get rid of) the bumps & air pockets?

What kind of cake are you trying to cover? Fondant takes on the smoothness of whatever it is covering.
It does look to me like it is a bit on the thin side. Have you tried rolling it to the thickness of a cake board?

Oh yes, your fondant is way too thin. I agree with the other poster, make it the thickness of a cardboard cake board. Also, here's a little trick. Roll it out then wait 10 minutes before lifting and placing the fondant. Gives it a chance to cool down and stiffen up a little. Also, rolling out your fondant twice seems to get all the bubbles out of it then once it's rolled out twice and is resting for 10 minutes, go over it with a smoother to get out any tiny air bubbles before you lift it up and onto the cake.

DeniseNH but doesn't letting it sit for 10 minutes make elephant skin form? I find that happens rather quickly with Satin Ice but not so with other brands. WHat's your experience with that?

this really helps me! A) I see now that I way my fondant WAY too thin- I also have that bumpy problem. I didnt realize there was such a thing as rolling fondant out to thin B) I never heard of waiting after rolling it out, but it makes so much sense! I have to try it out next time.

Ok, the reason I wait 10 minutes for the fondant to cool down to room temp is because I make my own. Marshmallow Fondant. Just three ingredients, water, powdered sugar and melted mini marshmallows. Melting the marshmallows heats them up - very easy to roll out but you need to let it cool off for easier application. Does not drift downward and no elephant skin and it's so elastic that it rolls out nice and thin.

DeniseNH I would love to try your recipe!! What are the measurements and can I color it and use it like a commercial fondant? I think yours will taste much better!

I use MMF and have the elephant skin problem if I let the fondant sit for a while after it's rolled.

I put a regular coat of buttercream on the cake, chill until firm, then roll my fondant thin, and cover the cake while it's cold.

Sorry to have to tell you this but I've NEVER had elephant skin on my MMF. Sounds like you're using too much powdered sugar. Another great idea is to roll it out on a mat that's been lightly sprayed with PAM or lightly greased with solid white fat (Crisco). This puts a nice moist surface on the fondant instead of a drying powdered surface. What I do is take a large plastic bowl and dump in a 16 oz package of KRAFT MINI marshmallows, must be Kraft and must be mini. Kraft makes the whitest and larger marshmallows don't work - have no idea why but they don't. Add a splash of water (1/4 cup) to the bowl (helps with the melting process). Microwave them for a minute on high, stir with a greased rubber spatula, microwave for another 30 seconds and stir. If still not melted, microwave for another 30 seconds. When it's all melted add one tablespoon clear vanilla and one teaspoon of Marshmallow Flavoring from LorAnn. Then dump a two pound bag of powdered sugar out onto your extra clean kitchen counter and pour the contents of the bowl on to the powdered sugar. With a white plastic bowl scraper, work quickly picking up the edges of the powder and putting it into the center and lightly pressing down - continue quickly all the way around the mound folding into the center until you're able to get rid of the scraper and use your hands to knead the fondant together. Eventually, you'll get use to knowing when it's ready. The fondant will still be a little warm which is great because it's easier to roll out while warm. Put the fondant into a greased bowl and clean off your counter. Any leftover powdered sugar needs to be sifted to get rid of bits of marshmallows. Take the left over sifted sugar and sprinkle onto your clean DRY counter or spray the counter with PAM or lightly grease a mat with Crisco and roll fondant out. So easy and cost effective. You definitely can color it but can't get it super dark like cranberry or black or eggplant - without the super colors on the market today. You can mix it half and half with gumpaste for stiffer applications. Hope this helps.