There are three options for the flavor of ice cream: vanilla, chocolate, and strawberry. For each flavor, there are four options for toppings: peanuts, fudge, caramel, and whipped cream.
To find the total number of possible combinations, we can multiply the number of options for the flavor by the number of options for the topping:
3 (options for the flavor) x 4 (options for the topping) = 12
So there are 12 possible combinations of one flavor of ice cream and one topping.