Pre heat the oven to 350 degrees
Grease and line an 8" pan
Mix all purpose flour, baking powder and baking soda and keep aside
Beat egg and sugar till light and fluffy ( approx 2-3 minutes)
Add butter and beat
Add flour and vanilla extract and mix well
Divide the batter in 4 parts in separate bowls
Add one food color to each bowl
Pour the batter from one bowl in the center of the pan
Pour batter from another bowl on top of the first batter
Keep pouring the batter on top of the previous batter until you are out of batter
Tap the pan on the slab once
Bake for 30-35 minutes
Cool the cake in the pan for 5 minutes
Take out from the pan and cool on a cooling rack
Soaking syrup
Mix all the ingredients and cool
Whipped cream
Add all the ingredients in a bowl and whip till cream forms stiff peaks
Assembly
When the cake is cooled, cut it into half
Brush one half with half of the soaking syrup and spread 1 cup of whipped cream on top of it
Cover with the other half
Brush with the remaining soaking syrup
Cover with a layer of frosting ( this is called crumb coat )
Decorate the cake with the remaining cream