Mix together the milk, vegetable oil, sugar, and egg in a large bowl until fully combined.
In a separate bowl, whisk the flour, baking powder, baking soda, and salt until evenly distributed.
Gradually stir the dry ingredients into the wet mixture, mixing until smooth and no lumps remain.
Fold in the vanilla extract and sprinkles, gently stirring to incorporate.
Preheat a nonstick skillet or griddle over medium-low heat, lightly greasing it with oil or spray.
Pour batter onto the skillet in desired pancake sizes, cooking until bubbles form on the surface.
Flip the pancakes and cook for an additional 1-2 minutes, or until golden brown.
Serve your pancakes warm, optionally topped with more sprinkles or your favorite syrup.