Preheat your oven to 350°F (175°C). Line two baking sheets with parchment paper or silicone baking mats. This prevents sticking and ensures even baking.
In a medium bowl, sift together 2 1/4 cups all-purpose flour, 1 teaspoon baking soda, and 1/2 teaspoon salt. Set aside.
In a large bowl, combine 1/2 cup softened unsalted butter, 1/2 cup vegetable oil, and 1 cup granulated sugar. Using an electric mixer or a whisk, beat until the mixture is creamy and light, about 2-3 minutes.
Mix in 1 large egg and 1 teaspoon vanilla extract until fully incorporated. Then add 1 tablespoon pink food coloring, blending thoroughly until the dough is a consistent pink shade.
Gradually add the dry flour mixture to the wet ingredients. Stir gently with a spatula until just combined. Be careful not to overmix, as this can make the cookies tough.
Fold in 1 cup white chocolate chips and 1/2 cup colorful sprinkles. The sprinkles will add bursts of color inside the dough and on the cookie tops.
Using a spoon or cookie scoop, drop rounded tablespoons of dough onto the prepared baking sheets, spacing them about 2 inches apart. Bake for 10-12 minutes, or until the edges are set but the center still looks slightly soft.
Allow the cookies to cool on the baking sheet for 5 minutes before transferring them to a wire rack to cool completely. These cookies are best enjoyed fresh but keep well for several days.