This is Joni Mitchell's recipe for fondant. She is an amazing cake decorator and shared this recipe with me. I have tried it twice and it has worked great both times. It is actually very easy to use. You shouldn't be intimidated by fondant.
Source: Joni Mitchell
2/3 cup soft butter
2/3 cup light corn syrup
1/2 tsp salt
2 lbs powdered sugar
1 tsp extract - any flavor
NOTE: I use almond extract because it tastes good and it is clear (so white stays white). To color, use the little jars of colors you get at a craft store in the cake decorating department. I get mine at Hobby Lobby. They are a lot more concentrated so you get good color without diluting your fondant.
Combine in a large bowl. (I use my Bosch with the kneading hook.) Knead until smooth. Refrigerate for 2 hrs before rolling.
When rolling out, use a mixture of 1/2 cornstarch, 1/2 powdered sugar as your "flouring" agent. Don't worry about your fondant looking dusty, the fondant with snatch it up and it will look shiny in a bit. You can always buff it out too.
Here are my two fondant projects so far: