Heat oven to 375°. Line the bottom of a jelly roll pan (size 15x10x1) with parchment paper. Spray the paper and sides of the pan with baking cooking spray (the kind with flour in it).
In a large bowl, beat the eggs for 6 minutes or until frothy. Add in the cake mix, water, and oil. (I used a butter cake mix, so I also added a red gel food coloring to make it appear red, but if you use a red velvet cake mix, you can skip this step). Mix the ingredients until well blended.
Pour 3 1/2 cups of batter into the pan and use a spatula to spread the batter to the sides of the pan. Set aside the remaining batter.
Bake for about 14 minutes (or until a toothpick will come out clean in the middle). Take a large (clean) kitchen towel and sprinkle the powdered sugar all over it. Once the cake is done, immediately turn the cake out onto the powdered sugar covered towel and peel off the parchment paper. Starting at the narrow end, roll the towel and cake into itself, creating a spiral. Cool the rolled-up cake on the counter for 10 minutes at room temperature and then place in the refrigerator for one hour to cool.
For the remainder of the batter, line a muffin tin with 6 baking cups and divide the batter between the cups. Bake at 375° for 15-18 minutes.
Unroll the cake carefully and remove the towel. Allow the end to remain slightly curled. Spread one full container and one half of another container of frosting over the surface of the cake. Re-roll the cake, wrap in plastic wrap, and refrigerate 30 minutes.
Remove the cake from the refrigerator. Spread half of the second container of icing across the top of the roll. Cover the icing with candy cane pieces. Slice and enjoy!