Preheat your oven to 350°F (175°C).
In a medium mixing bowl, whisk together the all-purpose flour, cornstarch, baking powder, baking soda, and salt. Set aside.
In a large mixing bowl, beat the softened unsalted butter and granulated sugar together until light and fluffy, about 2-3 minutes.
Add the room temperature egg and vanilla extract to the butter-sugar mixture and beat until well combined.
Gradually add the dry ingredient mixture to the wet ingredients, mixing until just combined.
Gently fold in the rainbow sprinkles until evenly distributed.
Scoop rounded portions of cookie dough onto a parchment-lined baking sheet, leaving space between each cookie.
Bake for 10-12 minutes, or until the edges are lightly golden.
Allow cookies to cool on the baking sheet for about 5 minutes, then transfer to a cooling rack.
In a mixing bowl, beat the room temperature unsalted butter until creamy. Gradually add the vanilla cake mix, powdered sugar, and vanilla extract, mixing until smooth.
Add food coloring until desired color is achieved.
Once the cookies are cooled, spread a generous layer of frosting on each cookie.
For an extra touch, sprinkle additional rainbow sprinkles on top of the frosted cookies.