Preheat the oven to 350 degrees F. Line two (12-cup) muffin pans with cupcake papers.
In a medium mixing bowl, sift together the flour, sugar, baking soda, salt, and cocoa powder.
In a large bowl gently beat together the oil, buttermilk, eggs, food coloring, vinegar, and vanilla with a handheld electric mixer.
Add the sifted dry ingredients to the wet and mix until smooth and thoroughly combined.
Divide the batter evenly among the cupcake tins (tins should be about ⅔ filled).
Bake in oven for about 20 to 22 minutes, turning the pans once, half way through. (Bake for ~13 minutes for mini-cupcakes.)
Test the cupcakes with a toothpick for doneness.
Remove cupcakes from oven and cool completely.
While your cupcakes are cooling, combine the cream cheese, butter and vanilla together in a large bowl and beat until smooth.
Add the powdered sugar and on low speed, beat until incorporated.
Increase the speed of your beaters/mixer to high and mix until frosting is whiter in color and very light/fluffy.
Spoon your frosting into a piping bag with your piping tip of choice (I used a large round tip from Bake It Pretty), and pipe thick swirls of frosting on top of each cooled cupcake.
Sprinkle with white pearl sprinkles (optional), then enjoy at least one immediately.
Recipe by Just Putzing Around the Kitchen at https://www.justputzing.com/2013/12/charlenes-red-velvet-cupcakes.html