Start by baking the cakes in two 8-inch round pans according to the instructions on the box.
After baking, let the cakes cool in the pans for 10 minutes before inverting them onto a wire rack to cool completely.
As the cakes cool, prepare the frosting one color at a time.
Dissolve each packet of jello in a large bowl by whisking it with 1/2 cup of boiling water.
Repeat this process for all four colors.
Allow the jello mixtures to cool for about 10 minutes.
Next, whisk 1 1/2 cups of whipped topping into each bowl of jello.
Cover the bowls and refrigerate them for 2 hours.
After chilling, use an electric hand mixer to break up the mixtures.
Then, add another 1 1/2 cups of whipped topping to each bowl and whip until smooth, leaving a few small lumps.
To assemble the cake, slice each cake layer in half horizontally.
Place the bottom half of one layer on your serving platter.
Reserve about 1/4 to 1/3 cup of your first jello frosting, and spread the rest over the cake layer.
Place the top half of the cake layer on top. Repeat this process with the next color of jello frosting.
Add the next cake layer, this time placing the top side down.
Frost with your third jello color.
Finally, place the last cake layer on top, bottom side up, and frost with the remaining color.
For the ombre effect, dollop the remaining frosting around the outside of the cake.
Use a bench scraper or offset spatula to smooth the frosting evenly.
Place the cake in the refrigerator for at least one hour to set, then serve.