Well, what I'm calling a Fate Cake is actually an amalgam of different traditions. In England, they used to (or maybe still do?) bake charms into the plum pudding----a coin for wealth, a ring for getting married, a thimble for remaining a spinster (I think?), a button for remaining a bachelor, etc.....and someone would end up with one or more of these in their piece of pudding and that would be their fate for the coming year.
In a more litigious
country, we get scared of choking hazards and people started putting the charms, tied with ribbons, in between layers of cake after it was baked; there would be one charm per person and you'd pull out your fate.
I found terrific little silver charms (being sold as "bridesmaid cake charms") already strung onto ribbons and just put them (very messily, I'm sorry to say, but they washed off well) into the Sticky Toffee Pudding my Mom brought for us to have for dessert (she ordered it from a catalog so don't ask me for the recipe, but it was wicked good). The charms included a four leaf clover, a ship's wheel (for travel), a heart, a money bag, a ring, etc etc....I drew the baby charm (arrrrgggghhhhhh) which, given my age, is not
what I'm hoping the New Year holds in store for me, but who can deny the prognosticating power of cake?