Is that $200 from the fondant supplier? heck, I'll mail some up to you. In fact, I can
mail some now and you two can play around with it, trying small models. The stuff is like Playdough.
I wouldn't eat what I've got though...it's from last year. I kept it for experiments. But you can certainly use it to do test runs.
Another cheap idea is to check out a super Walmarts early in the morning. Somewhere in the store they'll have a baker's rack of unsold baked goods and 8" layered cakes go for $4.80. You could freeze one of those and then practice carving out the shape and draping the fondant. You'll probably need to scrap off most of the icing, but still a quick and easy tester. And those are very edible. At least they are for the 25-30 year old male engineer group I'm working with lately. Since I'm not baking much these days, I pick up pumpkin and banana bread from a nice bakery and an el-cheapo cake from there.