The fondant was also homemade using marshmallows, powdered sugar, and a little water. You can always but it ready to use.
The color was made using wiltons gel food coloring. That can be bought at any craft or grocery store.
I made a stencil for the letters so i can cut them out evenly. I also used sprinkles for the burnt ends, and a food coloring pen.
Always have a picture of the design that you want to do. It will make it a lot easier for you and save some time.