Preheat oven to 350˚F (180˚C). Grease a bundt pan well with cooking spray, making sure to get the edges and curves if using an intricate bundt pan.
In the bowl of a stand mixer or a large bowl with a hand mixer, beat together the butter and granulated sugar until light and fluffy.
Add the eggs one at a time, then the vanilla and peppermint extracts.
Beat in the flour, baking powder, baking soda, and salt until just combined, scraping down the sides of the bowl.
Beat in the sour cream to create a thick batter, scraping down the sides of the bowl again to make sure everything is incorporated.
If creating a red marble, remove 1 cup (255 grams) of the batter and place in a medium bowl.
Add three drops of red food coloring to the 1 cup batter and fold together until the color is even. Add more red food coloring if needed.
Pour half of the uncolored batter into the prepared bundt pan.
Top with all of the red batter.
Cover with the remaining uncolored batter.
Tap the bundt pan a couple of times on the counter to make sure the batter reaches all parts of the pan. Use a knife or toothpick to lightly swirl the batter to create a marble pattern. Don't overmix.
Bake the bundt cake in the preheated oven until a knife inserted in the thickest part comes out clean, 50-60 minutes.
Allow to cool in the pan before removing to a wire rack.