So we know that red velvet is a thing. On St. Patrick's Day, you see green velvet. Blue Velvet has also been spotted. Pink velvet is pretty and one of Cupcakes Take The Cake Flickr members made these.
Speaking of pink velvet, I did a cake mix hack earlier this week using Duncan Hines Pink Velvet mix. I added a ripe banana, made a lemon glaze and it is delicious. The cake is like a hybrid between banana bread and yellow cake. It is less dense that banana bread. It's great to eat with coffee in the morning.