Just doing this post makes me want some cotton candy, you could to really cheat and get the already made stuff from the supermarket and pop it on sticks.
HOW TO -
1. Cut strips of striped wallpaper to fit around 4-, 8-, and 12-inch-diameter Styrofoam cake dummies, with an extra inch sticking up at top to create a rim. For a decorative edge, trim top edges with a pinking blade. Affix paper with spray adhesive, then hot-glue the tiers together.2. Wrap lollipop sticks with 1/8-inch-wide black tape to create stripes. Make your own cotton candy using a rented machine and the sticks.
3. Poke finished sticks into Styrofoam. Fill the areas inside the paper rims with sanding sugar.
The Wallpaper Company black-and-white striped wallpaper, homedepot.com. Taylor Foam round cake-foam set, taylorfoam.com. Confectionery House 8-inch sucker sticks, confectioneryhouse.com. Chartpak Pickett Graphic 1/8-inch tape, officedepot.com