Dip marshmallows. Melt white Candy Melts candy, according to package directions. Dip lollipop stick in melted candy and insert lollipop stick through the center of three mini marshmallows. Place in pops decorating stand and chill until set, about 3 to 5 minutes.

Use melted white candy in cut parchment bag to fill the gap where the marshmallows meet. Smooth with finger. Place in stand and chill until set, about 3 to 5 minutes.

Dip marshmallows in melted candy. Tap gently to remove excess. Smooth gap if necessary. Place in stand and chill until set, about 10 to 15 minutes. Dip again and chill until set, 3 to 5 minutes.

Make fondant ribbon. Tint fondant red. Use 9 in. fondant roller with pink guide rings to roll out fondant 1/16 in. thick. Use knife to cut one strip, 3/8 in. x 4 1/2 in. for ribbon. Wrap around the center of diploma. Use damp brush to join ends of fondant ribbon.

Use knife to cut one strip, 1/8 in. x 6 in., for bow and one strip, 1/8 in. x 1 in., for knot. Fold bow piece in figure-8 shape with ends crossing in center and extending beyond center to form tails. Trim ends of tails at an angle. Pinch center of bow together and wrap with knot piece, pinching excess fondant off at back of bow.

Use a damp brush to attach bow to wrap.

Add details. Use melted white candy in cut parchment bag to pipe spiral line around top end of treat to resemble rolled paper. Chill until set, 3 to 5 minutes.