Preheat your oven to 325°F (165°C). Grease a bundt pan with butter or non-stick spray and dust with flour.

In a large mixing bowl, cream together the butter, vegetable oil, and granulated sugar using an electric mixer until light and fluffy.

Crack in the eggs one at a time, mixing well after each addition until fully incorporated.

Add the instant pudding mix, strawberry extract, vanilla extract, and whole milk. Mix on low speed until just combined.

In a separate bowl, whisk together the all-purpose flour, baking powder, and salt. Gradually add this to the wet ingredients, mixing just until smooth.

Divide the batter into two bowls; tint one with food coloring. Fold gently to incorporate color.

Spoon alternating dollops of the plain and colored batters into the prepared bundt pan. Lightly swirl with a knife.

Bake for 60-70 minutes until a toothpick comes out clean. Watch carefully towards the end.

Let the cake cool in the pan for 15 minutes before inverting onto a wire rack to cool completely.

Whisk together powdered sugar, strawberry milk, and additional vanilla extract for the glaze. Pour over the cooled cake.

Slice and serve, enjoying the nostalgic flavors!