Preheat your oven to 350°F (175°C).

Grease two 9-inch round cake pans with butter or baking spray, and line the bottoms with parchment paper.

In a large mixing bowl, beat softened butter and granulated sugar on medium speed until light and fluffy (3-5 minutes).

Add the eggs one at a time, mixing well. Then pour in the milk and vanilla extract. Beat until smooth.

In a separate bowl, whisk together the flour and baking powder. Gradually add this to the wet ingredients, stirring gently.

Fold in the cotton candy and food coloring until even distribution is achieved.

Divide the batter into prepared pans and bake for 25 to 30 minutes until a toothpick comes out clean.

Let the cakes cool in the pans for 10 minutes, then transfer to wire racks to cool completely.

Frost the top of one layer with buttercream, add the second layer on top, and frost the entire cake.

Top with additional cotton candy for a fun touch before serving.