01 - Preheat oven to 350°F. Grease and line two 8-inch round cake pans with parchment paper.
02 - Blend strawberries and sugar in a blender or food processor until smooth. Reserve 1/2 cup for the cake batter and 1/4 cup for the frosting.
03 - Sift together cake flour, baking powder, baking soda, and salt in a medium bowl. Set aside.
04 - Beat butter, oil, and sugar in a large bowl until light and fluffy, about 3 minutes.
05 - Add eggs one at a time, beating well after each addition. Mix in vanilla extract, strawberry purée, and food coloring if using.
06 - Alternately add dry ingredients and buttermilk to the wet mixture, starting and ending with dry ingredients. Mix until just combined; do not overmix.
07 - Divide batter evenly between prepared pans. Smooth tops. Bake for 28-32 minutes, or until a toothpick inserted in center comes out clean.
08 - Let cakes cool in pans for 10 minutes, then turn out onto wire racks to cool completely.
09 - Beat cream cheese and butter together until smooth. Gradually add powdered sugar, beating until fluffy. Mix in vanilla and strawberry purée until well combined.
10 - Place one cake layer on a serving plate. Spread a layer of frosting on top. Add second cake layer and coat top and sides with remaining frosting.
11 - Decorate with fresh strawberries. Chill for 30 minutes before slicing for clean layers.