Red velvet cake is made with a small amount of cocoa powder, vinegar, and buttermilk-- and, of course, no small amount of vibrant red food coloring. These ingredients, while small in measurements, do make a big difference in the taste and texture of the cake-- making it vastly different than a yellow cake or a chocolate cake. Red velvet cakes are known for being especially moist with a tangy flavor and generally pairs well with cream cheese frosting.