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I love fondarific. I like the taste, but even more importantly, I love the flexibility of it. It stretches very nicely & doesn't get elephant skin. Course what I love about it is also what I hate. It's so flexible that it makes cut outs hard. You have to walk away & let them dry a minute.
Now, I mix about 3 parts fondarific to 1 part Pettinice. Best of both!
Oh, well, I've used both Fondarific and Satin Ice.
They're very different because Fondarific is candy melt based, so it has a lot of fats in it and doesn't dry or harden in the same way as traditional fondants/sugarpaste. The taste and texture are also different.
I think Fondarific can be easier to work with for a beginner because it has a longer working time. It needs to be barely nuked (like 10-20 seconds) to be kneaded and it should be rolled out on PS (I personally prefer a 50/50 mix of PS & CS). It is, however, more expensive than traditional fondant.
I like to mix Fondarific with Satin Ice--it makes for a very nice, silky product with the benefits of both.