step 1 of 6

step 2 of 6

step 3 of 6
Used Blender's Material settings to change the color of the cake to pink.
My layers are a little off because It's homemade cake. Homemade cakes are always lopsided! Well, mine are anyway.

step 4 of 6
Used Ray Mirror and Ray Transparency.
I also put a hemi light beneath it to light it from within.

step 5 of 6
Added a Plane (Spacebar>Add>Mesh>Plane). Used Node Editor to make a checkerboard pattern. Colored it black and a very very light pink. Added a little bit of Ray Mirror.

step 6 of 6
In Shading mode, select World Buttons. Select Blend and Paper. Chose a dark Blue and a Dark Purple.
Select Stars. Size: 3.9 and Max on Color Noise. Looks like confetti or sprinkles!
Save rendered image.

Final result

