Start by cleaning your countertop or using a fondant mat.

In a mixing bowl, combine the sifted powdered sugar, corn syrup, and vanilla extract.

Slowly add water to the mixture while stirring.

Transfer the mixture to your clean surface and knead it until it reaches a smooth and pliable consistency.

If desired, add food coloring and knead until you achieve your desired shade.

Using a rolling pin, roll out the fondant to about 1/4 inch thick.

Carefully lift the rolled fondant and place it over your cake, smoothing it down and removing air bubbles.

Trim off any excess fondant around the base of the cake with a sharp knife or pizza cutter.