Mix together jam, rum, anise and a few drops of red food coloring (optional) with a wire whisk until the ingredients are combined. Pour this mixture over the diced cake pieces and place in the refrigerator for a few hours or overnight.

When ready to assemble the cake, prepare your baked cake mix according to the directions on the box and bake in a 9-inch cake pan. Make sure the cake has time to cool down before you cut it down the middle to form 2 layers.

Place the bottom layer of cake into a 9-inch springform pan and fill it with the soaked cake pieces from the day before. Place the second layer on top and cover with plastic wrap.

Using bags of sugar, flour or jars, place on top of the cake to weigh it down and allow to sit in the refrigerator overnight.

The next day, remove the heavy objects and plastic wrap. Spread a generous layer of buttercream frosting over the top and sprinkle with your favorite colorful sprinkles.