In a large mixing bowl, combine the cream cheese (or vegan cream cheese), yogurt, vanilla extract, and sugar. Use an electric mixer or whisk to blend everything together until smooth and creamy.
Once your base is ready, divide the mixture into four smaller bowls. This will allow you to create different colored sections of the dip.
Add food coloring to each bowl, creating a rainbow effect. If you’re using natural colorants like turmeric for yellow, acai powder for pink, spirulina for green, and blue spirulina for blue, mix them in until you reach your desired color intensity.
In a serving dish, start layering the colored mixtures. You can pour them in sections or use a spatula to create waves for a more artistic look. Feel free to get creative with your layering technique!
Refrigerate the Rainbow Unicorn Dip for at least 30 minutes to allow the flavors to meld together. When ready to serve, pair it with an assortment of fruits, graham crackers, or pretzels for dipping.