In advance: Decorate horses. Slightly thin royal icing; paint mane, tail and hooves. Let dry. Make cowboys.
Tint fondant as follows: 24 oz. yellow, 3 oz. green, 2 oz. black, 2 oz. dark blue, 7 oz. dark brown, 7 oz. light brown, 1 oz. copper. Roll 3/4 in. ball heads; roll out colors 1/8 in. thick and cut 1 x 3/4 in. rectangle shirts; let dry and add dots with FoodWriters. Cut small slits for arms. Roll 3/8 x 4 in. logs for pants. For boots, roll out fondant 1/4 in. thick; cut 3/4 x 1/2 in. strip. Cut slit for heel and shape for pointed toe. For hat brims, make a 1 in. flat circle; for top, shape a 1/2 in. ball into an oval. Indent top and attach to brim with damp brush. Curl brim edges slightly. Cut a 1/8 x 2 in. strip for hat band and attach. For hair, cut 1/2 x 1/8 in. wide triangles; attach to head. Draw facial features with FoodWriters. For hands, flatten a 1/4 in. ball; cut slits for fingers. Attach all pieces to horses with Piping Gel. Reserve remaining fondant colors.