Line a 9×9 pan with parchment paper and then grease with cooking spray. Set aside.
In a small saucepan over medium heat, melt the butter. Add in the marshmallows and stir with a spatula until fully melted. Remove from the heat immediately.
Pour the marshmallow mixture into a large mixing bowl and add the rice krispies cereal. Use a rubber spatula to fold together until evenly coated.
Gently fold in the rainbow sprinkles and the white chocolate chips.
Transfer the mixture into the prepared pan and use a grease rubber spatula to spread the mixture into an even layer.
If desired, top with more white chocolate chips and sprinkle with a few more sprinkles.
Place in the fridge to set before cutting into 16 squares. Enjoy!