1. Put all the ingredients for the sponge cake layers in a bowl and mix them together using a whisk or an wooden spoon.
2. When all is mixed, start adding gradually some water or milk and keep mixing, until the texture of a very thick pancake batter is achieved.
3. Grease two round cake forms with some butter, and pour the cake batter evenly in both.
4. Bake in a preheated oven at 400 F for about 25-30 minutes, or until a skewer inserted in the middle of the cake comes out clean.
5. Remove the cake layers from the oven and let them cool down without removing them from the form until they are cool.
6. Sprinkle the sponge cake layers with the syrup and set them aside for a few minutes.
7. In the meantime, put the two kinds of chocolate in two separate glass measuring cups and put them in a large heavy pan.
8. Add hot water to the pan and set it on the stove over low temperature, until the chocolate is liquid.
9. Add some cream to the chocolate, if needed. Keep warm.
10. Mix the ingredients for the frosting in a mixing bowl until smooth.
11. Apply half of the frosting in between the two cake layers, and the rest on top and on the side.
12. After you apply the cream cheese frosting, spread the white chocolate over the cake using a plastic spatula.
13. After that, drizzle some of the milk chocolate on top of the white chocolate, and spread the rest on the side of the cake.
14. Stick the coconut flakes on the side, while the chocolate is still soft.
15. Decorate the cake with papaya balls, which you can cut using a small butter scooper.
If you don't have one of those, you can buy it from the dollar store.
16. Refrigerate the cake for a few hours before serving.