Preheat your oven to 350°F (175°C). Line a baking sheet with parchment paper.

In a large mixing bowl, cream together the softened butter, granulated sugar, and brown sugar until light and fluffy (about 2-3 minutes).

Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.

In a separate bowl, whisk together the flour, baking soda, and salt. Gradually add the dry ingredients to the wet ingredients, mixing until just combined.

Gently fold in the chopped cotton candy and rainbow sprinkles until evenly distributed throughout the dough.

Using a cookie scoop or tablespoon, drop rounded balls of dough onto the prepared baking sheet, spacing them about 2 inches apart.

Bake in the preheated oven for 10-12 minutes, or until the edges are lightly golden. The centers may look slightly underbaked; they will firm up as they cool.

Allow the cookies to cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely.