Line a 9-inch springform pan with a piece of parchment paper. Trim off any excess parchment.
In a medium mixing bowl, stir the graham cracker crumbs with the melted butter. Stir together until it feels like wet sand and can easily stick together when pressed between two fingers.
Use your fingertips to press the mixture into the bottom of your prepared springform pan. Set in the fridge to chill while you make the filling.
In the bowl to your stand mixer, beat the cream cheese and powdered sugar together until it is smooth and creamy, around 2 minutes.
Add the heavy cream and vanilla extract and continue beating until the mixture is fluffy, about 4 minutes.
Divide the batter evenly amongst 6 bowls. You’ll have about ½ cup of batter for each bowl. Starting with the first bowl, add ½ teaspoon of red food coloring to the bowl and stir to mix the color through.
Smooth the red layer over the graham cracker crust and use the back of a spoon to smooth it out.
Pop the cake into the freezer for 10-15 minutes to firm up. While it is in the freezer, grab another bowl of cheesecake batter and add the orange food coloring to it. Stir to combine.
Remove the cheesecake from the freezer and spoon the orange layer over the red one and spread it out evenly. Place in the freezer for 10 minutes. Repeat this process with the remaining 4 bowls and the yellow, green, blue and purple, in that order.
Once the purple layer has gone on the top, place in the fridge to chill for 4 hours or up to overnight.
Once chilled, top with dollops of whipped cream, slice and serve.