Preheat the oven to 350°F and line a cookie sheet with parchment paper. Set aside.

In a stand mixer fitted with the paddle attachment, combine the butter and granulated sugar. Beat on medium speed, gradually increasing to high until the butter is light and fluffy, and pale in color; about 2 minutes.

Use a rubber spatula to scrape the down the sides of the bowl. Add the eggs, vanilla extract and almond extract. Beat until smooth and completely combined.

Scrape down the bowl and add the flour, baking powder, and salt. Stir on low speed until combined and no streaks of flour remain. Do not over mix.

Last, use a silicone spatula to fold in the rainbow sprinkles until evenly distributed.

Fill one small bowl with granulated sugar and one bowl with powdered sugar. Use a 1.5 ounce cookie scoop to scoop cookies out. Roll the balls first in the granulated sugar and then in the powdered sugar to completely coat the cookie balls.

Place the cookies 2 inches apart on your cookie sheet. Bake for 10 to 12 minutes or until the edges are set and the centers have puffed up, but are still gooey. Remember, the cookies will continue to cook as they cool so you want them to be a little under baked when you take them out. Allow the cookies to cool completely.