To make the pancakes combine the pancake mix, water, vanilla, and cinnamon in a bowl. Whisk until mostly smooth.
Divide the pancakes into three bowls. Color one yellow, one green, and one purple.
Heat a T-fal Non-stick skillet over medium heat. Spray lightly with cooking spray.
Using the yellow batter, pour out 2 pancakes. Cook for 2 minutes on one side and then 1 minute on the other. Remove from pan and repeat with the green and purple batter.
Once your pancakes are done make the drizzle by combining the cream cheese, powdered sugar, vanilla, and cinnamon in a large bowl. Beat with a hand mixture until smooth. Add in the milk and stir.
To make the King Cake Pancakes place a purple pancake on a plate and spread with 1 teaspoon of the drizzle. Top with a green pancake and another teaspoon of drizzle. Then top off with a yellow pancake and a teaspoon of the drizzle. Repeat one more time.
Pour the remaining drizzle over top of the pancake tower and sprinkle with yellow, green, and purple sprinkles.