I would do something like shown on this link only on a bigger scale.
http://bronniebakes.com/2011/09/21/how-to-make-a-striped-fondant-bow/
Do you have The Mat by Sweetwise? That would make it a lot easier, I love mine.
Tara, Nova Scotia, https://www.facebook.com/pages/Valleys-kool-cakes/131353476890032