Preheat the Oven: Set your oven to 350°F (175°C). Prepare a 9-inch round cake pan by greasing and flouring it.

Mix Dry Ingredients: In a large mixing bowl, whisk together the flour, granulated sugar, cocoa powder, baking soda, and salt until well combined.

Combine Wet Ingredients: In a separate bowl, mix the egg, buttermilk, red food coloring, vanilla extract, and vegetable oil until smooth.

Combine Mixtures: Add the wet mixture into the dry ingredients and stir until the batter is smooth.

Bake the Cake: Pour the batter into the prepared pan and bake for 25-30 minutes or until a toothpick comes out clean. Let it cool completely on a wire rack.

Crumble: Once cooled, crumble the cake into a large bowl to prepare for mixing with the frosting.

Make the Frosting: In another bowl, mix the softened cream cheese, unsalted butter, powdered sugar, and vanilla extract to create a smooth frosting.

Combine Cake and Frosting: Stir the frosting into the crumbled cake until everything holds together well. Roll this mixture into 1-inch balls and place them on a parchment-lined baking sheet.

Chill the Cake Balls: Refrigerate the cake balls for at least 1 hour to firm up.

Melt Chocolate: While they chill, melt the white chocolate or candy melts according to package instructions.

Dip & Decorate: Dip each cake ball into the melted coating and place it back on parchment. Add sprinkles or decorative toppings while the coating is still wet. Allow them to cool and set completely before serving.