In a large saucepan, mix together sugar, evaporated milk, and butter. Stir constantly over medium heat. Bring to a full rolling boil and continue stirring for four minutes. Remove from heat and stir in white chocolate chips, marshmallow cream, and extracts. Add chopped pecans.
Pour warm fudge into buttered 11-x-7-inch baking dish. Allow fudge to set for several hours or overnight, and then cut into squares. If desired, whole pecans can be placed on top of warm fudge after pouring into dish.