Helllllpppppppp!

Cut each color out onto cardboard and use that template to cut out your fondant/ modeling chocolate / whatever. Then you can piece together the logo and place it on the cake. I have a program that will let me cut vector graphics on my Cricut Cake, but you can do it by hand just as well. I used this technique to make the Krystal logo on this cake: http://cakesdecor.com/cakes/17972

A great way is to print an edible image of the logo…makes things so much easier!

If you don’t have an edible image printer, most of the grocery stores (at least the ones around here) that have a bakery will print your edible image. Around here it is $8.00 a sheet, but you can put as many graphics as you want on the 8 1/2 X 11" sheet.

I would agree with Jennifer, that’s how I manage now since I don’t have an edible printer and no one in my small town will print edible images for me.
I am a visual learner, check out Sugar Sweet Cakes and Treats blogspot, she has a pictorial where she flips the picture upside down and tops with wax paper. She spreads a thin layer of crisco (I believe) and makes a Red Sox logo with fondant-sort of like a buttercream/chocolate transfer, which would also be an option if your in a hurry. However, I use templates and an exacto knife like Jennifer suggested or Angela’s technique from Sugar Sweet Cakes. It just depends on the type of project I’m doing.
Good Luck! You’ve got the hard part finished already ;)