First line an 8x8 inch square pan with parchment paper, across the bottom and up the edges of the pan.Then butter the parchment, set aside.

Place 4 tablespoons butter in a medium saucepan over medium/low heat, add in marshmallows, cocoa powder, heavy cream, and sugar stirring frequently until marshmallows are melted and the mixture is smooth and well mixed.

Turn the heat to low and add in vanilla and 1 1/2 cup white chocolate chips. Continue stirring frequently until the chocolate chips are melted and well incorporated.

Add in 1/2 teaspoon food coloring and mix, add in additional food coloring if a deeper color is desired, stirring after each addition.

Pour the fudge mixture into your parchment lined pan and smooth evenly across the pan.

Place the pan in the refrigerator for at least an hour.

Once the red velvet layer is cooled it is time to make the cream cheese layer.

In a medium bowl cream together butter and cream cheese, add in vanilla and mix well.

Gradually add in powdered sugar, mixing after each addition until all the powdered sugar is mixed in.

Place 1/3 cup white chocolate chips in a microwave safe bowl. Heat in 30 second intervals stirring after each one until the white chocolate chips are totally melted and smooth. Or place them in a double boiler over medium heat and melt until smooth.

Pour the melted white chocolate over the butter and cream cheese mixture. Mix on low speed until well mixed.

Spread evenly over top of the red layer.

Sprinkle with sprinkles if desired.

Place in the refrigerator until the top layer is hardened. (about 30 minutes)

When you're ready to serve remove the fudge from the pan with the parchment. Place on a chopping block and cut into 9 even squares.

To store- cover with plastic wrap or place in an airtight container and keep refrigerated.