Preheat the oven to 350°F and grease two small round cake pans.
In a bowl, whisk the flour, sugar, cocoa powder, baking powder, and salt.
Add the milk, oil, egg, and vanilla to the dry mix and stir until smooth.
Pour the batter evenly into the prepared pans and bake for 20 minutes until a toothpick comes out clean.
Cool the cakes in the pans for 10 minutes, then remove and let them cool fully on a rack.
Beat the powdered sugar, butter, and milk in a bowl until creamy, then divide the frosting and tint one half orange with food coloring.
Place one cake layer on a plate and spread orange frosting on top.
Add the second layer and cover the whole cake with the remaining orange frosting.
Set the sugar cone point-up in the center of the cake to form the hat tip.
Scatter chocolate sprinkles around the base and on the cone for the brim detail.