The most common and most likely answer to this crossword clue is the 6 letter word MUFFIN
I've seen this crossword clue in The Guardian
M
U
F
F
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More clues leading to the result MUFFIN
Buddy explains!

The straight part
We know that "cake" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cake = muffin.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does MUFFIN mean?
MUFFIN noun- A type of flattish bun, usually cut in two horizontally, toasted and spread with butter, etc, before being eaten.
- A type of individual bread such as corn, bran, banana or zucchini bread often sliced and spread with butter, etc before being eaten.
- (especially US) (informally) A cupcake without frosting, but sometimes glazed.
- A mechanism used in the Java Network Launching Protocol analogous to the cookie mechanism and which permits a program running in a browser to perform operations on a client machine.
- Term of endearment.
- (sexual slang) A vulva.
- A less talented player; one who muffs, or drops the ball.
- A charming, attractive young man.
- A small plate, smaller than a twiffler.