Preheat your oven to 350°F (175°C). Grease and flour two 9-inch round cake pans to ensure easy release; set aside.

In a large mixing bowl, combine the dry cake mix, water, vegetable oil, eggs, and Torani Peppermint Syrup. Beat until the mixture is smooth and fully blended.

Divide the batter evenly between the prepared pans. Place them in the preheated oven and bake for 20-25 minutes, or until a toothpick inserted into the center comes out clean.

Allow the cakes to cool in the pans for 10 minutes before transferring them to a wire rack to cool completely.

In a large bowl, place the softened butter, powdered sugar, 3 tablespoons of milk or water, and peppermint extract. Using an electric mixer, beat on medium speed until the frosting is smooth, light, and fluffy. If the frosting is too thick, gradually add the remaining tablespoon of milk or water until the desired consistency is reached.

Spread a generous layer of frosting between the cooled cake layers, then frost the top and sides of the entire cake.

To finish, gently press crushed candy cane pieces around the sides and sprinkle them over the top of the cake for a festive touch. Enjoy your peppermint cake with family and friends!