Preheat oven to 350 degrees. Spray 3 6" cake pans with non stick spray and place a parchment paper round in the bottom of each pan.
In a large bowl cream the softened butter and granulated sugar together.
Add in the egg whites and vanilla bean paste and mix until smooth, about 1 minutes.
Add in the buttermilk and sour cream and combine.
In a separate bowl whisk together the flour, baking powder, baking soda and salt.
Add the dry ingredients to the wet ingredients and mix the batter is smooth.
Mix in the rainbow jimmies.
Divide the batter evenly between the cake pans.
Bake the cakes for 32-36 minutes, or until a toothpick comes out clean from the centers with just a few moist crumbs.
Let the cakes cool in their pans for 5 minutes, then transfer them to a cooling rack to completely cool.
For the White Chocolate Buttercream
Add the softened butter to a large bowl and mix with an electric mixer until pale in color and fluffy, 5-10 minutes.
Then add in the melted and slightly cooled white chocolate and mix until combined. You'll want to make sure the white chocolate is just about room temperature, but still completely melted. If it's too warm the butter will melt and if it's too cold it can cause clumps of chocolate to end up in the frosting.
Add in the powdered sugar a little at a time and mix until it is all combined and the frosting is light and fluffy.
Assembling the Cake
One the cakes are cooled fill each layer and frost the outside with white chocolate buttercream. Add sprinkles to the top and outside of the cake. See the blog post above for all the step by step instructions along with photos.
Notes
Store leftovers in an airtight container for up to three days.