Several days in advance: Make fondant pieces. Add 2 teaspoons of Gum-Tex? to fondant, knead and divide as follows: Tint 1/4 blue and 1/8 each copper (skin tone), light brown (for ethnic skin tone), black, yellow, green and Christmas Red/Red-Red combination. Make 14 graduates and caps. Using numeral cutters, cut red "2", yellow "0", blue "0" and green "5". Brush with water and sprinkle with Cake Sparkles. Using medium and small star cutters from 101-cutter set, cut stars in various colors. Let all pieces dry several days on cornstarch-dusted surface.
A day in advance: Using royal icing, make 14 hanging cap tassels. Using tip 1, pipe dot with five 1/2 in. strings on waxed paper. Make extras to allow for breakage; let dry. Attach lollipop sticks to backs of fondant numbers and stars with tip 4 dots of royal icing; let dry.
Ice 2-layer 8 in. and 12 in. cakes and 1-layer 16 in. cake smooth with buttercream. Prepare for
stacked construction. Using Cake Dividing Set, divide 8 in. cake into 6ths, 12 in. cake into 8ths and 16 in. cake into 16ths. On 8 in. and 12 in. cakes, pipe tip 4 bead bottom borders. Add tip 2B vertical band columns at division points. Pipe tip 18 scrolls at top and bottom of columns. On 16 in. cake, pipe tip 18 zigzag garland, 1 in. deep, between division points; add tip 21 shell bottom border. Draw facial features with black FoodWriter and position graduates on cake between pillars. Attach hanging tassels with tip 1. Curl ribbon and position on cake; tie ribbon on sticks for tallest stars. Insert numbers and stars at staggered heights on cake top.