Preheat oven to 325°F. Line a cupcake pan with cupcake liners and set aside.
In a large bowl, combine the cake mix and dry pudding mix. Stir until combined. Next mix in the eggs, canola oil and water. Finally mix in the sour cream. Separate batter into 5 bowls. Add different colors of food coloring to each bowl and stir until smooth.
Add one spoonful (about 1 Tablespoon) of each color to your cupcake liner (about 3/4 the way full). Bake for 20-25 minutes, or until they spring back when touched. Do not over cook. You can also test with a tooth pick to make sure the centers are cooked all the way through.
Remove from oven and allow cupcakes to cool on a cooling rack. Frost with buttercream frosting.
Notes
You can also use this fluffy vanilla frosting.Store leftover cupcakes in an airtight container at room temperature for up to 4 days.I prefer to freeze unfrosted cupcakes. Cool completely then transfer to a freezer safe bag. Freeze for up to one month. Thaw and add frosting.