Prepare an 8 or 9 inch square baking pan with parchment paper. Spritz with nonstick cooking spray. Place all of the ingredients + 1 tsp coconut oil (for even melting) EXCEPT 2 tbsp sprinkles (if you want to add those) into a microwave safe bowl.
Heat on high for 30 seconds, then stir. Return to the microwave and heat in 30 second increments, stirring after each time until it is smooth. Stir in the sprinkles, reserving some for the top.
Transfer the mixture into the prepared baking dish. Top with additional sprinkles. Cover tightly with plastic wrap so it doesn't touch the contents, just wraps around the pan. Chill in the refrigerator for 2 to 3 hours until firm.
Use the parchment paper to lift the fudge from the baking dish. Cut into squares and serve.