My cat vomitted some pink/clear syrup-like liquid with small red (blood-like) specks in it....?

My eight month old cat has been throwing up for the last couple of hours and I'm concerned about what is going on with him. He generally eats a lot of food, a lot more than my other cat, so I figured the amount of vomit was due to the amount of food he has eaten. He also drinks a lot of water from the faucet... show more My eight month old cat has been throwing up for the last couple of hours and I'm concerned about what is going on with him. He generally eats a lot of food, a lot more than my other cat, so I figured the amount of vomit was due to the amount of food he has eaten. He also drinks a lot of water from the faucet and did so an hour or two before he began to throw up.

But-now he's been throwing up what I can only assume is bile? At first it was the lighter, a more fluid color-similar to his food and every time he throws up it's becoming more of a clear, light pink color.

The clear, light pink color the last time he threw up had small spots of blood-maybe four-six little specks. Or what looked like blood.

He hasnt been very active-since all this has started. Usually he runs around, plays and is an overly active kitten.

I was wondering if you could help me understand what is going on with him, right now and what I should do to help.
Update: I dont want to dismiss the fact that it might be a hairball-but wanted to add that although he is a medium hair cat he sheds close to no hair (we brush him daily and little to no hair comes out) and just to be safe we do give him and our other cat Laxatone to help eliminate hairballs in their systems.
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