You may have to think about the forward characteristic,the reverse characteristic and the change of capacitance with voltage. The forward characteristic is the most important. Get a sample LED, carefully plot out its I/V curve. Relabelled the voltage axis times the number of LEDs in series. get hold of a perspex rule, and mark three best fit lines over the curve.
Work out the V/I of the first line, say its 200, then use a 200 ohm load. Where the second line bisects the first line, read of the voltage, work out the DV/DI of that line, and hence R, suppose its 100 Ohms, you need to put a zener in series with a 200 ohm resistor with a voltage equal to that you have noted. This technique can be used for as many straight line segments as you want. Finally put a forward conducting diode in series with this lot. This should be a reasonable load for positive voltages. Now connect a diode on this load to provide the reverse voltage characteristics with its own selection of zeners and resistors. A pulse extender should be used, so if you dodgy power supply produces violent negative ringing, the overloading of the reverse voltage can be noted, then measured.
The other parameters I can see that might need to be simulated are the LED capacitance both across the forward conduction and the reverse direction. I think this is esoteric. But if you want it you will have to measure it on an actual diode and figure out a way of simulating it.
Frank