Prepare three 8 inch cake pans with parchment paper circles in the bottom and grease the sides. Preheat oven to 350°F (176°C).

Combine the flour, baking powder and salt in a medium sized bowl and set aside.

Add the butter, sugar, oil and vanilla extract to a large mixer bowl and beat together until light in color and fluffy, about 2-3 minutes.

Add the eggs one at a time, mixing until mostly combined after each. Scrape down the sides of the bowl as needed.

Add half of the dry ingredients to the batter and mix until mostly combined.

Slowly add the milk and mix until well combined.

Add the remaining dry ingredients and mix until well combined and smooth.

Divide the batter evenly between the cakes pans and bake for 22-25 minutes, or until a toothpick comes out with a few crumbs.

Remove the cakes from the oven and allow to cool for about 2-3 minutes, then remove to cooling racks to cool completely.

To make the frosting, beat the butter until smooth.

Slowly add half of the powdered sugar and mix until smooth.

Add the vanilla extract, 4-5 tablespoons of heavy cream, and salt and mix until smooth.

Slowly add the remaining powdered sugar and mix until smooth.

Use a large serrated knife to remove the domes from the top of the cakes.

Place the first cake on a serving plate or a cardboard cake round.

Spread about 1 cup of frosting evenly on top of the cake.

Add the second layer of cake and another cup of frosting.

Top the cake with the remaining layer and frost the outside of the cake.

Press sprinkles into the sides of the cake.

Pipe swirls of frosting around the top edge of the cake.

Add a few more sprinkles to the top of the cake. Store in an air-tight container.