Line two 8 inch cake pans with parchment paper on the bottom. Spray the parchment and the sides of the pan.
In a large bowl cream together the butter and sugar.
Add in the eggs and mix well. Stir in the vanilla.
Add in half the flour, the baking powder, and the salt. Mix well.
Add milk and mix until well combined.
Add the remaining flour and mix until batter is smooth.
Divide the batter between the two prepared pans. Bake for 30-35 minutes or until a toothpick inserted into the center comes out clean.
Allow to cool for 10 minutes then run a butter knife around the edges of the pan. Remove the cakes from the pans and place on a wire rack to cool completely.
To make the frosting place the butter in a large bowl. Beat with a mixer until smooth. Add in the powdered sugar one cup at a time, beating after each addition, until well combined. Stir in the vanilla.
Place one of the cake layers on a cake board. Place 1 cup of frosting on top of it and spread it out. Place the other layer on top of the first layer.
Place several cups of frosting on top of the cake and frost the top and sides.
Carefully press sprinkles into the bottom one inch of the cake.
To make the drip place the candy melts in a microwave safe bowl and heat for 30 seconds. Stir and add in the coconut oil. Continue heating in 20 second intervals, stirring after each heating, until smooth.
Allow the mixture to cool for several minutes or until it is just beginning to thicken. Pour mixture into a squirt bottle.
Begin squirting a small amount of pink candy melts around the top edge of the cake allowing some to drip down the sides. Continue around the entire cake.
Put 5 drops of pink coloring and 2 drops of purple in the remaining frosting and mix well. Pipe the frosting around the top edge of the cake making sure to cover up the mess the candy melts made on top of the cake.