1. Preheat oven to 350°F (175°C).
2. In a mixing bowl, cream together the softened butter, white sugar, and brown sugar for 2-3 minutes until smooth and combined.
3. Add the egg and vanilla extract, mixing until fully incorporated.
4. In a separate bowl, whisk together flour, baking soda, baking powder, and salt. Gradually add dry ingredients to the wet mixture, stirring until just combined.
5. Gently fold in the sprinkles without overmixing to avoid color bleeding.
6. Use a 1/4 cup cookie scoop or roughly 2 tablespoons to portion dough balls onto a parchment-lined or lightly greased baking sheet, spacing them 2-3 inches apart.
7. Optionally, press extra sprinkles on top for decoration.
8. Bake for 7-9 minutes for larger cookies or 5 minutes for smaller cookies until edges are set but centers remain slightly doughy.
9. Allow cookies to cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.