In a medium bowl, mix graham cracker crumbs and melted butter until well combined. Press mixture firmly into the bottom of a 9-inch springform pan. Chill in refrigerator while preparing the filling.
In a large bowl, beat cream cheese and sugar with an electric mixer until smooth and creamy. Mix in vanilla extract.
In a separate bowl, whip the heavy cream until stiff peaks form. Gently fold into the cream cheese mixture.
Fold in sprinkles carefully. Pour the cheesecake filling evenly over the crust in the springform pan.
Smooth the top with a spatula and sprinkle additional rainbow sprinkles on top. Refrigerate for at least 4 hours or until set.
Notes
To easily remove the cheesecake, run a knife around the edge of the pan before releasing the springform.