Bake cake. Prepare cake batter following recipe instructions. Bake and cool two cake layers. Level, fill and stack for 4 in. high cake. Ice cake smooth.

Tint fondant. Combine Lemon Yellow and Moss Green icing colors to get bright green color shown. Combine Teal and Sky Blue icing colors to get teal color shown. Combine Rose and Sky Blue icing colors to get medium and dark magenta colors shown. Combine Rose and Violet icing colors to get medium purple color shown. Combine Orange and Rose icing colors to get medium peach color shown. Tint 1 oz. fondant each bright green, teal, medium magenta, dark magenta, medium purple and medium peach using color combinations provided. Using Lemon Yellow icing color, tint additional 1 oz. fondant yellow.

Make fondant decorations. Using fondant roller with pink guide rings, roll out each color of fondant, individually. Using smallest round cut-out, cut 20 circles in each color.

Decorate cake. Starting on top of cake, place fondant circles, alternating colors, until top is covered. Continue down sides of cake, increasing space between circles toward bottom of cake.