Preheat the oven to 350 degrees.
Spray a donut pan with baking spray and set aside.
In a medium bowl combine the flour, baking powder, and salt. Mix well and set aside.
In a large bowl cream together the sugar and butter. Add in the egg and mix well. Stir in the butter vanilla bakery emulsion.
Add the flour mixture to your butter mixture and mix until combined.
Stir in the rainbow sprinkles and milk.
Place the dough in a zip top baggie and cut of the corner. Pipe into the donut pan.
Bake for 15-17 minutes or until the donuts start to brown. Remove from oven and let cool 2 minutes then remove from pan and cool completely on a wire rack.
To make the glaze combine the powdered sugar, milk, and butter vanilla bakery emulsion. Whisk until smooth. The glaze should be thick.
Take the cooled donuts and dip them in the glaze and then cover in remaining sprinkles. Place back on the wire rack so that any extra glaze can drip off.
Enjoy immediately.