No, formally in the Nov. 4 election you don't vote for a Pres and VP, but you vote for a slate of electors. The electors of all states then elect a Pres and VP in December. It's just an indirect election.
Most electors are pledged to vote for a specific Pres/VP combination in the December election; but there can also be "unpledged electors" who have not promised to vote for one or another candidate. These unpledged electors haven't occurred in the last couple of elections, but it has as late as 1964.
So, in fact on Nov 4, you vote for Mr/Ms X Y and Z who promise as elector to vote for Obama/Biden (say). But since the names X, Y and Z are unknown to the general public, their names are not printed on the ballot but the names of Obama/Biden are.
It's just an indirect election: like gtc showed with the Bundesrat, which is made up of representatives of the governments of the Laender.
Or another example: in Holland, we vote every 4 years for the provincial assemblies. Then, a few months later, the members of these provincial assemblies cast their votes for the members of the (nationwide) "First Chamber", the upper house of Parliament.
The only difference is that the US Electoral College is specifically elected for the sole purpose of electing the President and VP, and thereafter is disbanded.