We used cookie cutters to cut the flower shapes and the frog as well. It is so much fun - you can't loose! Oh, one tip we learned the hard way is that you don't want to use tootsie-rolls in the bodies or eyes - or at all- turns out that they melt! You can however use other fun candies to make any bugs you like!
The point is- anything you can shape out of play-dough....... you can shape out of fondant! I posted an easy fondant recipe on Adventurez In Child Rearing - I'll have to dig it up and post it here as well.