Preheat the oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.

In a large bowl, cream together the softened butter and sugar until light and fluffy.

Beat in the eggs one at a time, then stir in the vanilla extract.

In another bowl, combine flour, baking powder, and salt. Gradually add to the creamed mixture alternately with milk. Mix until just blended.

Divide the batter into two bowls and add food coloring to each according to your desired color scheme.

Pour the batter into the prepared pans and bake for 30-35 minutes or until a toothpick comes out clean.

Let cakes cool before frosting with buttercream and decorating as desired using fondant or additional frosting.