Step 1: Break up fondant in top of double boiler. Place over water over medium-low heat and stir constantly with wooden spoon as fondant melts.
Step 2: Stir in water, extract and food coloring, adding more extract if desired. When fondant is smooth and reaches 105°F (40°C) on candy thermometer, remove from heat but keep top of double boiler over lower pan to keep fondant soft.
Step 3: Drop about 1 tsp (5 mL) of fondant at a time onto waxed paper lined baking sheet to form small round wafers or patties. Let cool.
Step 4: Store in waxed paper lined box at room temperature for up to 1 month.
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