Try this one [I use a glucose-based recipe}:

Rolled Fondant

4 pounds confectioners' sugar, plus extra for kneading
1 1/4 cups light corn syrup
2 tsp orange extract
2 tsp vanilla extract
1/2 cup cold water
2 tbs gelatin
Yellow food coloring
Red food coloring

In a large mixing bowl, sift the confectioners' sugar. Make a well in the center of the sugar and add the corn syrup and extracts. Do not mix.

In a small saucepan add the water and sprinkle the gelatin over it. Let stand one minute. Heat the gelatin and water over medium heat for 1/2 a minute or until it is hot and the gelatin is
fully dissolved. Pour mixture into the well. Quickly stir the mixture with a heavy wooden spoon from the center out to evenly disperse the gelatin.

When the mixture becomes too thick to stir, turn it out onto a work surface dusted with confectioners' sugar. Knead the fondant until smooth and doughlike. If the fondant is sticky (this tends to happen in humid weather), knead in more confectioners' sugar.

Knead in food coloring until desired color is achieved. Add coloring a few drops at a time, as a little goes a long way. Store fondant in a tightly sealed container in the refrigerator up to one week. Bring to room temperature, then knead well prior to use.
If fondant is too dry, add a few drops of water. If fondant is too sticky, add more confectioners's sugar. Cover with plastic wrap and let it rest in an airtight container for several hours before using.

Personal Notes:
Don't roll it too thinly - the outside should firm up on the cake, but it should be malleable underneath.
After rolling out, drape the fondant over the cake. Sprinkle icing sugar [confectioner's] over your hands and gently rub the folds out while manipluating the icing into place. The gentle buffing will produce a soft, satiny feel to the icing.