Preheat the oven to 350°F (175°C). Grease and flour the 9-inch round cake pan.
In a bowl, whisk together the flour, sugar, baking powder, baking soda, salt, and cocoa powder.
In another mixing bowl, combine the vegetable oil, buttermilk, eggs, red food coloring, vanilla extract, and vinegar. Mix until fully combined.
Gradually add the dry ingredients to the wet ingredients and mix until smooth.
Pour the batter into the prepared cake pan and bake for 25-30 minutes, or until a toothpick inserted in the center comes out clean.
Allow the cake to cool completely in the pan for 10 minutes, then turn out onto a wire rack to cool completely.
Once the cake is cool, crumble it into a large bowl.
In a separate bowl, prepare the cream cheese frosting by beating the cream cheese and butter together until smooth. Gradually add the powdered sugar and vanilla extract, mixing until well combined.
Add ½ to 1 cup of the cream cheese frosting to the crumbled cake, mixing until the mixture is moist enough to form balls. You may not need all the frosting.
Scoop out portions of the mixture and roll them into balls, about 1 inch in diameter. Place on a baking sheet lined with parchment paper.
Melt the white chocolate or candy melts in a melting pot or microwave according to package instructions.
Dip the end of each lollipop stick into the melted chocolate, then insert about halfway into a cake ball. This helps the stick stay in place.
Once all the sticks are inserted, dip each cake pop into the melted chocolate, covering it completely. Tap off excess chocolate.
Place the coated cake pops upright in a cake pop stand or a block of styrofoam to dry.
Allow the chocolate to set completely before serving.