I cheated with this one, I used 3 Betty Crocker cake mixes and I made my own fondant icing (which I will never do again as it is too hard to get the right consistency).
The decorating of this homemade carousel cake took forever to do, it was so hard especially when I had my daughter running round you have to have a lot of patience. I used the the plastic horses as I thought they looked better then the wooden ones and the fondant ones I made. It is very important to cut the dowels to the same length or the top cake wont sit properly on the dowels. I added ribbon swirled around the dowels.
I found that if I put the tape on the owls where the ribbon are in the cake that they slide in better and the ribbons stayed in the right spots and didn’t cranke up when they are pushed in. The horses I bought from the toy shop were $6-$8 each, I taped them to the dowels as was too hard to glue them.