Line an 8×8 in square pan with parchment paper. Butter the top of the parchment (or you can spritz with butter flavored cooking spray).

In a medium saucepan, heat 4 tablespoons butter, the mini marshmallows, sugar, cocoa powder and the heavy cream.

Stir well to mix together. Cook the mixture over medium /low heat. Stir frequently until the butter is melted and the other ingredients are nice and smooth.

Turn the heat on down to low. Add in the teaspoon of vanilla extract and white chocolate chips. Mix until chips are smooth and melted.

Remove from the heat and add in food coloring. Stir until well incorporated and add more to achieve desired color.

Pour the chocolate mixture into your prepared pan and place in the refrigerator for at least an hour.

In a medium bowl cream together butter and cream cheese with an electric mixer. Add in powdered sugar and vanilla, mixing until well incorporated.

In a large microwave-safe bowl, heat 1/3 cup white chocolate chips in 30 second increments. You’ll want to stir it well between each one, until completely melted.

Pour the melted chocolate into the butter and cream cheese mixture and mix on low to blend well.

Pour the white mixture over the refrigerated red fudge layer and spread it evenly.

Place the dish in the fridge until the cream cheese layer is completely chilled.

Remove the fudge from the lined pan by carefully lifting out the edges of the parchment paper. Lay it on a flat surface and slice it into 16 even squares.