Line your 8x8 or 9x9 baking pan with parchment paper to cover the bottom and all sides. Set aside.

In a medium bowl, combine the white chocolate chips and sweetened condensed milk.

Heat in the microwave for 30 seconds, stir well.

Heat for an additional 30 seconds and stir well. If there are still small clumps, heat for an additional 30 seconds and stir until smooth.

Transfer about ⅓ of the white chocolate mixture to another small bowl, set aside.

Measure out the 1 tablespoon of red velvet emulsion and add it to the larger bowl with the white chocolate mixture. Stir very well - scraping the sides and bottom to ensure the mixture is cohesive and smooth.

Pour the red velvet mixture into your prepared pan.

Dollop spoonfuls of the white chocolate into the pan with the red velvet mixture.

Use a butter knife to draw through the fudge and swirl the white chocolate into the red velvet.

Allow to chill in the fridge for about 2 hours or until set.

Slice and serve.