Preheat oven to 350°F (175°C) and grease two 9-inch round cake pans.
In a large bowl, sift together flour, sugar, baking soda, cocoa powder, and salt.
In another bowl, beat eggs, oil, buttermilk, food coloring, vanilla, and vinegar.
Gradually add dry ingredients to wet ingredients and mix until combined.
Divide batter between prepared pans and bake for 30–32 minutes.
Cool cakes completely before frosting.
For frosting, beat cream cheese and butter until smooth, then gradually add powdered sugar and vanilla extract.
Frost the cooled cakes and decorate as desired.