Place cake layers, top sides up, in 2 clean 9 inch round cake pans. Pierce cake with large fork at 1/2 inch intervals.
Stir 1 cup of the boiling water into each flavor of gelatin in separate bowls 2 minutes or until completely dissolved. Carefully pour red gelatin over 1 cake layer and lime gelatin over second cake layer. Refrigerate 3 hours.
Dip 1 cake pan in warm water 10 seconds, unmold onto serving plate. Spread with about 1 cup of the whipped topping. Unmold second cake layer; carefully place on first cake layer. Frost top and sides of cake with remaining whipped topping.
Refrigerate at least 1 hour or until ready to serve. Decorate as desired. Store leftover cake in refrigerator. Makes 12 servings.
By Robin from Washington, IA
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