Preheat oven to 350°F (175°C) and line two baking sheets with parchment paper.

In a large bowl, cream together softened butter, granulated sugar, and brown sugar until light and fluffy.

Beat in the egg, vanilla extract, and almond extract until well combined.

Whisk together flour, baking soda, and salt in a separate medium bowl.

Gradually add the dry ingredients to the wet ingredients, mixing until just combined.

Gently fold in the rainbow sprinkles and white chocolate chips.

Scoop tablespoon-sized balls of dough and place them 2 inches apart on the prepared baking sheets.

Bake for 8-10 minutes until the edges are lightly golden but the centers remain soft.

Allow cookies to cool on the baking sheet for 5 minutes before transferring to a wire rack to cool completely.