01 - Whisk together flour, granulated sugar, baking powder, baking soda, and salt in a large mixing bowl until fully combined.
02 - Whisk cherry soda, whole milk, eggs, melted butter, vanilla extract, and food coloring (if using) in a separate bowl until blended smoothly.
03 - Pour wet mixture into the bowl with dry ingredients. Gently mix until just combined; do not overmix. Some lumps should remain for best texture.
04 - Heat a nonstick skillet or griddle over medium heat. Lightly grease surface with butter or oil.
05 - Ladle 1/3 cup portions of batter onto preheated skillet. Cook until bubbles form and edges set, about 2–3 minutes. Flip and continue to cook for 1–2 minutes until golden brown and cooked through.
06 - Arrange pancakes on plates, decorating immediately while warm with mini marshmallows and chocolate chips for 'monster eyes.' Sprinkle with candy eyes or colored sprinkles if desired. Serve immediately with whipped cream.