Preheat the oven to 350°F (175°C). Grease and flour the cake pans.

In a mixing bowl, combine the dry ingredients and whisk together.

In another bowl, cream the butter and sugar until light and fluffy.

Add the eggs one at a time, mixing well after each addition. Stir in vanilla.

Gradually add the dry ingredients to the wet mixture, alternating with milk.

Fold in the rainbow sprinkles.

Divide the batter evenly into the prepared cake pans.

Bake for 25-30 minutes or until a toothpick comes out clean.

Let the cakes cool in the pans for 10 minutes, then transfer to a wire rack to cool completely.

Once the cakes are completely cool, frost with your favorite frosting.

Decorate with additional rainbow sprinkles if desired.

Slice and serve to enjoy the colorful layers!