Well, there are many different recipes and variations. The common ingredients in all fondants are powdered sugar or confectioners sugar along with butter or shortening. This recipe uses light corn syrup, glycerin, and gelatin. A vegetarian version will have agar-agar instead of gelatin. Add cocoa powder to make a chocolate version. Of course, one of the easiest is to make fondant with marshmallows. You can also make it with chocolate marshmallows.