Could make a red velvet cake... get the recipe for a cream cheese frosting off the internet and make that for it. Divide some of the still white frosting away and save it for the eggs. And take the rest... add food coloring for whatever color you want the dragon.

Not a bad idea

If making your own frosting falls into the 'going hog ass wild' category I think they sell tubs of cream cheese frosting in stores as well :P

I burn water, brah.

Then do what you see fit, man. Just take your time with the cake and... if you're feeling up to it try making the frosting. If not... like I said, I think they little tubs of cream cheese frosting too in the baking isle XD

XD. My original ideas were... out of my level

XD Should I even ask?

Nope

Then I won't bring it up :P

Yellow cake is good though maybe Confetti XD
as for frosting, buttercream is a way to go , and you can add some food coloring to make 'paint'
just make sure the cake is cooled and the frosting at room temp, you can use a knife to apply a base and then some ziplock bags with one of the bottom corners snipped off as a piping bag to 'draw' lines of frosting

Nerd!!!! <3

XD

If you're not the biggest fan of chocolate, I'd probably go along the lines of french vanilla or coffee/espresso for the flavor...okay, I'm biased towards those flavors by default. ^^; Another good idea you could do? Pumpkin; it is the right time of year for it. You could use canned pumpkin and save yourself the trouble of cutting one up (just make sure to read the ingredients and make sure that pumpkin is the only ingredient XP).

As for the other tips, well, Ed said much of what I would have said. XD

Since velvet was already suggested, I will also suggest chocolate.

"Not a huge fan of chocolate"