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Marshmallow Cream Cheese Frosting:
Preheat oven to 350°F.
Butter and flour three 9-inch-diameter cake pans. Sift flour and next 6 ingredients into medium bowl. Combine oil, 1 cup sugar, and brown sugar in large bowl; whisk until smooth. Whisk in eggs 1 at a time, then mashed sweet potatoes. Whisk in flour mixture in 3 additions.
Divide batter between prepared pans. Bake cakes until tester inserted into center comes out clean, about 30 minutes. Cool cakes completely in pans on racks.
In the bowl of an electric mixer, beat cream cheese, marshmallow crème and vanilla until well blended.
Place 1 cake layer, flat side up, on platter. Spread 1/3 of the frosting over the top. Repeat with the second and third layer. Spread remaining frosting over top of cake. Chill until frosting sets, at least 2 hours.
Let stand at room temperature 1 hour before serving.
Right before serving, drizzle caramel sauce over the cake and sprinkle the pecans over the top. (Can be made 1 day ahead. Keep covered and chilled.)
Photo Credit: Shannon Lockwood