Preheat and Prepare: Preheat the oven to 350°F (175°C) and grease a cake pan.
Mix the Batter: In a large bowl, combine the cake mix, water, egg whites, vegetable oil, sour cream, and vanilla extract. Mix until smooth.
Create the Pastel Swirls: Divide the batter into three bowls. Add blue food coloring to one, pink to the second, and yellow to the third. Gently stir to combine.
Swirl and Bake: Spoon the different colors into the cake pan, alternating them to create a marbled effect. Lightly swirl with a knife or toothpick. Bake for 30-35 minutes or until a toothpick inserted in the center comes out clean. Let the cake cool completely.
Prepare the Frosting: Beat softened butter until creamy. Slowly add powdered sugar and salt, mixing until light and fluffy. Stir in vanilla extract and heavy cream (or milk) until smooth. Add food coloring if desired.
Frost and Decorate: Spread the frosting evenly over the cooled cake and top with pastel-colored sprinkles. Slice and enjoy!