Preheat your oven to 350°F (175°C) and line two baking sheets with parchment paper.

In a bowl, whisk together flour, baking powder, and salt; set aside.

In a large mixing bowl, cream butter with granulated sugar and brown sugar until fluffy (about 3 minutes).

Beat in the eggs one at a time followed by vanilla extract until well combined.

Gradually add dry ingredients to the wet mixture; mix until just combined.

Gently fold in rainbow sprinkles.

Drop heaping tablespoons of dough onto prepared baking sheets about two inches apart.

Bake for 10-12 minutes or until edges are lightly golden; cool on sheets for five minutes before transferring to wire racks.