Pink by accident
Bubble gum is a soft pink named after the candy. In 1928 Walter Diemer, an accountant at the Fleer gum company in Philadelphia, made the first bubble gum, later sold as Dubble Bubble. His gum came out a dull gray. He added red dye because it was the only color he had, and the gum turned pink. You can read the story in the Wikipedia article on bubble gum.
A name without a fixed code
We found no official source for #FFC1CC. It turns up in many online lists of color names. Crayola's Bubble Gum crayon from its 2019 pearl set is a deeper pink, #DF9ACA. The code here sits just one step from the CSS color pink, #FFC0CB, so the two look the same on screen. A slightly cooler pink is cotton candy.

