AShould I cover in pink fondant then cut out the circles & diamonds? Any idea where to get that diamond curved cutter? Any suggestion/advice? Thank you!

http://peapodpaperandgifts.com/let-s-party/coral-peach-diamond-cupcake-wrappers.html

I believe they call the pattern double ring, if I read correctly, but there is a thread on here from the other day regarding this pattern.  They mentioned a few sites to get cutters and also provided a handy pattern, should you want to do with a just round cutter, but cutting four circles, placing the four cut circles in a "square" pattern, and then cutting the middle of the "square" with the round cutter.  The thread provided a diagram of this :)

http://cakecentral.com/t/759942/what-is-this-called-and-how-is-it-done

AThank you!! Ill try the 4 circle method - you just saved me $30 :D