homemade fondant?

I didn't even know what fondant was but I looked it up and there are a lot of recipes for different kinds. They don't look expensive, one uses butter, powdered sugar and corn syrup. Another uses marshmallows. I would think you could whip some up very cheaply. It'd be fun for you and your daughter to make some lovely baked goods! Perhaps you could even sell some.

Yes, my mother-in-law decorates cakes on a weekly basis and makes her own fondant when needed. However you can buy it where they sell cake decorating supplies. And if you'd like to try it at home you might try googling: fondant recipe or looking on the wilton cake decorating site as well. I know the wilton books have recipes in them.
Good Luck and have fun!