To form ribbon loops, cut fondant strips 1/2 in. wide by 3 1/2 in. long. Form into a loop shape, pinch ends together and lay on side to dry. To make ribbons, cut strips of fondant 1/2 in. wide by approximately 7 1/2 in. long. Brush strips with water and sprinkle with corresponding color sparkles. With decorator brush, brush water line on sides and top of package and position ribbons. When dry, position loops and attach to cake top with buttercream icing. Attach icing decoration with dots of icing.