Roll-out and cut an 8 in. circle from white fondant. Use Cake Corer to cut hole in center for column. Using alphabet cutters, cut desired letters from red fondant. Also, roll 8 red log-shaped handles, 1 1/2 in. long, for clown-go-round. Roll-out other fondant colors and cut circles using tips 6B, 21 and center of letter "O" as cutters.