Preheat oven to 350 degrees F (175 degrees C). Grease and flour two 9-inch round cake pans.
In a medium bowl, stir together the flour, sugar, baking soda, salt, and cocoa powder. Make a well in the center and pour in the oil, buttermilk, food coloring, vinegar, vanilla, and eggs. Beat until well blended.
Pour the batter into the prepared pans. Bake for 30 minutes in the preheated oven, or until a toothpick inserted into the center of the cake comes out clean.
Cool for 10 minutes before removing from pans to cool completely.
To make the frosting: In a medium bowl, combine the cream cheese and butter. Beat until smooth. Gradually beat in the confectioners' sugar. Add the vanilla, and beat until smooth.
Frost the cooled cake.
Interesting Facts
Red velvet cake is believed to have originated in the United States in the 19th century.
The distinctive red color of red velvet cake comes from the use of cocoa powder and food coloring.
Red velvet cake is often served with cream cheese frosting, which is a combination of cream cheese, butter, and confectioners’ sugar.