Preheat your oven to 350°F (175°C).
Prepare your bundt pan by greasing it with non-stick spray or butter and flour.
In a large mixing bowl, combine the eggnog, vegetable oil, and yellow butter cake mix. Mix until smooth.
Add the rum extract into the batter and mix thoroughly.
Pour the prepared batter into the greased bundt pan.
Bake for about 35 minutes or until a toothpick inserted comes out clean.
Allow the cake to cool in the pan for about 10 minutes before inverting onto a rack.
Mix powdered sugar with eggnog for a glaze and drizzle over the cooled cake.