Preheat your oven to 350°F. Generously butter and flour a bundt cake pan to ensure easy release.
Prepare the cake batter according to the instructions on the box. Divide the batter evenly into three bowls. In one bowl, stir in 1 teaspoon of red food coloring. In another, add 1 teaspoon of blue food coloring. Leave the third bowl plain for the white layer.
Layer the Batter: Pour the red batter into the bottom of the bundt pan.
Carefully pour the white batter over the red. Finally, pour the blue batter over the white layer.
Bake for 45 minutes or until a toothpick inserted into the center comes out clean.
Let the cake cool in the pan for 10–15 minutes before inverting onto a plate or cake stand to cool completely.
Microwave the white frosting for about 1 minute, until pourable.
Divide the frosting into three bowls. Leave one white, then color the other two with red and blue food coloring. Drizzle the white frosting over the cooled cake, followed by the red, then the blue. Immediately top with festive sprinkles while the frosting is still tacky.
Let the frosting set, then slice and serve and enjoy!