Preheat oven to 325°F. Position oven rack in lower half of oven. Grease and flour Classic Wonder Mold (or spray with vegetable pan spray with flour). Make cake batter; pour into prepared pan. Bake 60-65 minutes or until cake tester inserted in center comes out clean. Cool cake in pan 15 minutes. Remove from pan; cool completely. Position cooled cake on foil-wrapped cake circle.
Tint about 30 oz. of white fondant rose and tint a 2 in. ball of white fondant blue. Prepare cake for rolled fondant by lightly icing with buttercream. Roll out rose fondant 1/16-in. thick (you'll need about a 15-in. circle; reserve remaining). Cover cake with fondant; smooth. Lightly brush with water; sprinkle with white Cake Sparkles. Attach star sprinkles with dots of buttercream icing. For bodice, roll out blue fondant 1/8 in. thick; cut a 2-1/2 x 4-1/2 in. rectangle. Wrap around doll pick; trim excess with knife. Smooth fondant around pick with fingers. For straps, cut two 3/16 x 1 in. strips; attach with damp brush. Insert pick in cake.
For stole, roll out reserved rose fondant 1/8 in. thick; cut a 1-1/4 x 10 in. long strip. Wrap strip around doll pick, gathering in folds at ends. Make pony tail on pick using small rubber band; cut a small rose fondant strip and attach around rubber band with icing. Position doll accessories.