Cream sugar and oil together; add eggs,beat well. Add vinegar and food coloring and beat well. Sift flour and baking soda together. Add this to above mixture alternating with the buttermilk. Add vanilla extract. Beat well. Pour in to three 9-inch pans or one 9 x 13 pan. Bake in a preheated oven at 350 degrees for 30-35 minutes. Ovens are different so keep a close check on it. My oven cooks fast soit takes less time.
Frosting- Cream soften butter and soften cream cheese together until creamy; add sugar and vanilla extract, mix well.