Step 1: Preheat your oven to 425°F (220°C). This ensures the biscuits bake evenly and rise beautifully.
Step 2: In a large mixing bowl, combine the self-rising flour and sugar. Stir well to ensure they are evenly distributed.
Step 3: Add the cold, cubed butter and cream cheese to the flour mixture. Use a pastry cutter or your fingers to cut them into the flour until the mixture resembles coarse crumbs.
Step 4: Create a well in the center of the flour mixture. Pour in the cold buttermilk and the beaten egg. Stir gently until just combined. Be careful not to overmix!
Step 5: Gently fold in the sprinkles until they are evenly distributed throughout the dough.
Step 6: Turn the dough out onto a floured surface. Pat it into a rectangle about 1-inch thick. Use a biscuit cutter to cut out your biscuits, re-rolling scraps as needed.
Step 7: Place the biscuits on a parchment-lined baking sheet, leaving space between each one. Bake in the preheated oven for 12-15 minutes or until they are golden brown.
Step 8: While the biscuits are baking, prepare the glaze. In a bowl, whisk together the powdered sugar, heavy whipping cream, water, vanilla extract, and almond extract if using. Adjust with more water or powdered sugar to achieve your desired consistency.
Step 9: Once the biscuits are out of the oven and slightly cooled, drizzle the glaze over the top and sprinkle with additional sprinkles for that extra festive touch.