Cream the softened butter, light brown sugar, and granulated sugar together for 3 minutes until light and fluffy.
Mix in the egg, egg yolk, almond extract, and vanilla extract until just combined.
Mix in the flour, salt, baking soda, and baking powder until almost combined and there are still some dry flour streaks.
Then fold in the rainbow sprinkles until just combined.
Scoop the dough with a standard cookie scoop (two-tablespoons) onto a parchment-lined baking tray.
Fill a shallow bowl with the extra rainbow sprinkles.
Roll each cookie dough ball between your hands then dip the top of the ball into the sprinkles so just the top is covered. Don't roll the whole thing in sprinkles, they will just melt!
Place them back on the baking tray.
Chill the tray of cookie dough in the freezer for 2 hours minimum, or overnight for the best flavor and texture.
Then preheat the oven to 350 F/180 C. Bake the cookies spaced 2-3 inches apart on a parchment-lined baking tray for 9-11 minutes, or until the very edges are just golden brown.
Let the tray cool on a wire cooling rack before removing them, then enjoy!