01 - Preheat oven to 350°F (175°C). Grease and line three 8-inch round cake pans with parchment paper.
02 - In a medium bowl, whisk together the all-purpose flour, baking powder, and salt. Set aside.
03 - In a large bowl, beat the softened butter and granulated sugar using an electric mixer until light and fluffy, approximately 3–4 minutes.
04 - Add eggs one at a time, beating well after each addition. Mix in the cotton candy flavoring and vanilla extract until evenly combined.
05 - With the mixer on low speed, add the flour mixture in three parts, alternating with the whole milk, beginning and ending with the flour. Mix until just combined; do not overmix.
06 - Divide the batter evenly into two bowls. Tint one portion pink and the other blue using food coloring. Drop spoonfuls of each color alternately into the prepared cake pans for a marbled effect, then swirl gently with a skewer or knife.
07 - Bake for 25–28 minutes, or until a toothpick inserted into the center of each layer comes out clean.
08 - Allow cakes to cool in the pans for 10 minutes, then turn out onto a wire rack to cool completely before frosting.
09 - Beat the butter until creamy and smooth. Gradually add the sifted powdered sugar on low speed. Mix in the cotton candy flavoring and milk until the buttercream is smooth and fluffy. Divide the frosting and tint one portion pink and the other blue as desired.
10 - Layer and frost the cooled cake with the buttercream, swirling pink and blue together for a cotton candy effect.
11 - Just before serving, crown the cake with fluffy pieces of fresh cotton candy. Serve immediately to prevent the cotton candy from dissolving.