Preheat oven to 350°F. Grease and flour a 9-inch round cake pan.
In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set aside.
In a large bowl, whisk together the buttermilk, sugar, oil, eggs, and vanilla extract. Slowly add the dry ingredients to the wet ingredients and mix until just combined.
Pour the batter into the prepared pan and bake for 30-35 minutes, or until a toothpick inserted in the center comes out clean. Allow the cake to cool completely.
In a medium bowl, cream together the butter and cream cheese until light and fluffy. Gradually add the powdered sugar and whipping cream and mix until combined.
Spread the frosting on the cooled cake and decorate with holiday sprinkles.
Top with a chocolate Santa and serve.
Interesting Facts
This cake is traditionally served on Christmas but can be enjoyed any time of the year.
You can use any type of sprinkles for decoration.
Chocolate Santas can be found in most grocery stores.