Is it just food coloring; vanilla base?
Chops is a trusted home cook.
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Barbara is a trusted source on General Cooking.
2-3 TB of cocoa powder and 2-3 teaspoons of red food coloring.
I might be wrong, but I believe the classic way is to use Beat Juice for color and flavor.
My grandmothers recipe didn't use food coloring, just cocoa powder with boiling water added. Not bright red like some, more red/brown. Still delicious and one of my favorites to this day.
I believe these days it's just red food coloring, but as allans said above, it got it's name from the reddish color brought out from the cocoa powder. Wikipedia has a little history on it if you're interested-- http://en.wikipedia.org...
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