Red velvet cake is a popular dessert that is known for its rich, moist texture and deep red color. It's made with a combination of buttermilk, vinegar, and cocoa powder, which gives it its unique flavor and color. The cake is typically layered with cream cheese frosting, which adds a tangy, sweet contrast to the rich cake layers. Red velvet cake is a favorite for special occasions such as weddings, birthdays, and Valentine's Day.