The present invention relates to a multi-colored baked cake cone typically for holding ice cream or other confection novelties. This cone is made of a dough bi-layer that includes at least a first layer of a conventional cake dough that contains sugar and a second layer of a modified cake dough that imparts at least one color other than brown to the cone after baking. The cone is typically associated with a sleeve that is at least partially transparent to display the multicolor cone.