Combine cream cheese, vanilla, cocoa, red velvet cake mix (if using), sugar and powdered sugar. Mix well and set aside.

If using cool whip, fold it into the mix. If using heavy whipping cream, add to a bowl and blend til you have stiff peeks and then fold into the mix. next add in red food coloring. (NOTE! If you are using red velvet cake mix, then you can skip the food coloring)