Graduation Cap Cake

It is graduation time again! Here is a cake I made to celebrate - a cake shaped like a graduation cap. It is actually much easier to make than it may appear, and didn't take very much time at all.

Step 1: Bake your favorite cake recipe in a deep round pan. You don't want the cake to be flat and round, but tall and round, so I don't recommend an 8 or 9-inch round pan. I baked this chocolate cake  recipe {Bigger Batch Chocolate Cake} in a 5-inch oven-safe bowl.
Step 2: Prepare an appropriately-sized square of cardboard (based on the size of the cake) and cover it with waxed paper on both sides.
Step 3: Prepare one batch of candy clay {Candy Clay}). Use an appropriate color of candy melts or tint desired color. I used royal blue coloring to match the school color. Spread the candy clay evenly over the piece of cardboard to cover, cover with waxed paper, and allow to dry overnight. Save a little extra candy clay to make a tassel (once it hardens).
Step 4: Prepare your favorite frosting recipe. You can tint the frosting to match the candy clay if you'd like. I like chocolate frosting and didn't want to add extra dye, so I used {Coca Mocha Icing}. Frost the entire cake. Add a bottom border if you wish. 
Step 5: Just before serving, assemble the cake. Fasten the tassel to the square of candy clay and add a blob of icing on top and gently place on top of the cake. Pipe "Congratulations Graduates" on the top of the hat if you wish.