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The butt of anyone (male or female.)
Look at her, she barely has any cake.
Wow! That's some real cake she got there.
It could be used in multiple situations
1. Ass
2. The actual dessert
3. Ez (easy)
1. GAH DAM LOOK AT THAT'S GUY'S/GIRL'S CAKE HE/SHE GOT THE WHOLE BAKERY IN THERE
2.- Mom can we eat cake for dinner?
- no stupid you'll get diabetes
3. Man that exam was cake (he still got an F)
An annoying irony. From the phrase "You can't have your cake and eat it too." Mostly used to refer to something sought after only to be found it's useless.
"Well, I can get a better job and have more money, or I can keep my healthcare and not die. That's some cake right there..."