Preheat oven to 350 degrees. Layer a 9X13 inch backing pan with parchment paper (greasing the pan works also but parchemnt paper makes it easier to take the Mochi out of the pan when finished).
In a large mixing bowl combine mochiko, sugar, and baking powder.
In a seperate bowl blend water, coconut milk, and vanilla.
Gradually add the wet ingrediants to the dry ingrediants. If the ingrediants are combined to quickly it could lead to lumps in the mixture. Mix thoroughly with a whisk or spoon.
Remove 2 cups of mixture. Add 3 drops of the food coloring of your choice. Pour into the prepared baking pan. Evenly spread the mixture around the pan.
Cover the pan with foil and bake for 15 minutes at 350 degrees.
Pour 2 cups of mixture dyed the color of your choice over the first layer. Cover with foil and bake for 20 minutes.
Pour the last of the mixture (dyed any color) over the 2nd layer. Cover and bake for 30 minutes. This is a great time to clean up the kitchen!
Cool uncovered, preferably overnight. After it has been uncovered for about an hour cover with a clean dish towel while it finishes cooling.
Remove mochi from pan with parchement paper and cut with a plastic knife when mochi is completely cooled. (bite size pieces work great).
Lightly dip each square of mochi into corn starch and use fingers to lightly coat entire mochi slice with starch.
After coating all pieces enjoy!