Adding cocoa or starting with chocolate is not an option for those of us (and we are actually many, not few) that detest chocolate.
I make most things from scratch. But life is too short to worry about red or black fondant. Satin Ice all the way!!
True Black MMF
Put your marshmallows in a microwave safe bowl, add the water, and microwave on high for 1 minute. Stir mixture, and microwave for another minute. When marshmallows come out they will be HOT, stir again, scraping the sides with a scraper. Immediately add your chocolate chips, and stir until the chips are completely melted. Add your Karo syrup and stir again this time with a butter knife, making sure that all of your syrup is incorporated. Add a good amount of black gel food coloring, and stir again with your knife, making sure that you scrape around the edges. Once your mixture is the blackest black that you can get, (I added about 1-2 tsp. of the gel coloring) then add about half of your bag of powdered sugar, and stir until the mixture is thick, with your knife. Grease your hands liberally with Crisco and add the rest of the powdered sugar* to the bowl. Knead your fondant until all of the powdered sugar is gone. Store for up to a month wrapped in plastic wrap, sealed in a gallon Ziploc, and stored in an airtight container.
*Depending on the humidity in your area it might take a little more powdered sugar, or even a little less to get the consistency of fondant.
6 oz. of semi sweet chocolate chips (about half of a bag)
1 bag of mini marshmallows
3 tbsp. of clear Karo syrup
3 tbsp. water
1 1lb. bag of powdered sugar
gel black food coloring