1 cup butter
1/2 cup white sugar
1 teaspoon vanilla extract
2 eggs
1/2 cup vegetable oil
3/4 cup all-purpose flour
1 teaspoon baking soda
2 cups milk
1 cup confectioners' sugar for dusting (optional)
Preheat oven to 350 degrees F (175 degrees C). Grease and flour a 9x9 inch square pan. Sift together the flour and baking soda; set aside.
In the same bowl, cream together the butter, sugar and vanilla until smooth. Beat in the eggs one at a time, then stir in the oil. Combine the flour mixture, milk and sprinkles; stir into the creamed mixture. Press onto the prepared pan.
Bake in the preheated oven for 20 minutes, or until a toothpick inserted into the center of the cake comes out clean. While the cake is waiting for the toothpick, dust with confectioners' sugar. Allow to cool until room temperature. Dust the edge with confectioners' sugar to seal.