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Preheat the oven to 375° F and grease cookie sheets with baking spray or line with baking mats.
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With an electric mixer, beat together the butter and the sugars until creamy. Mix in the vanilla, and then add the eggs, one at a time, mixing slowly after each addition.
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In a separate bowl, combine the flour, baking soda, and salt. Add this mixture into the butter/sugar mixture slowly, stirring well. Then, fold in the white chocolate chips and sprinkles.
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Optional but recommended step: place the cookie dough in the fridge for about 30 minutes to chill the dough. This is helpful if your cookies tend to come out flat; they will not spread as much if the dough is chilled.
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Scoop dough into rounded tablespoons about 2 inches apart on the cookie sheets for about smaller cookies. I like to make about 18 larger cookies by putting about 3-4 tablespoons of dough for each cookie. If you decide to make them large, only put about 6 on each cookie sheet. Bake for 9-11 minutes (until the edges look slightly crispy).
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While the cookies are baking, making the frosting. For the chocolate frosting, cream together the butter and cocoa powder. Add in the powdered sugar one cup at a time, mixing well. Add in the vanilla and salt. Finally, add in the milk or cream, one tbsp at a time, until the frosting reaches a smooth consistency. For the vanilla frosting, follow the same process (omitting the cocoa powder, of course!) Transfer the two frostings into piping bags.
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Let the cookies cool for at least 30 minutes before frosting the cookies. If you frost them too soon, the frosting will melt. Swirl the frosting on the cookies and top with additional sprinkles. Enjoy!