Preheat the oven to 350 degrees F and grease a 3-cup (5-inch diameter) mini bundt pan with non-stick spray.
In a large mixing bowl, combine the cake flour, sugar, baking soda, and salt.
In a large glass measuring cup, combine the oil, buttermilk and egg white.
Pour the buttermilk mixture into the dry ingredients, and mix on low speed until combined.
Place the food coloring, cocoa, vinegar, and vanilla in a smaller bowl, and stir in about half of the cake batter.
Using a large serving spoon or ice cream scoop, place some of the red batter into the greased bundt pan. Layer some of the white batter on top, then repeat again with red. Continue alternating until the pan is full and there is no remaining batter.
Bake for 30 minutes or until a tester inserted in the cake comes out clean.
Cool completely and unmold onto a serving plate, then top with the glaze.