Start by preheating your oven to 350°F and lining two 12-cup muffin pans with cupcake liners—this recipe makes 24 cupcakes, so make sure you have enough room.
Mix the flour, sugar, baking powder, and salt together in a large bowl using a whisk.
Incorporate the eggs, vegetable oil, milk, and vanilla extract, and continue mixing on medium speed until the batter reaches a smooth and consistent texture.
Be sure to scrape the bowl to remove any ingredients that may have clung to the sides.
Now for the fun part—gently fold in the rainbow sprinkles! Stir slowly to avoid the colors bleeding, keeping that vibrant Funfetti look intact.
Once your batter is ready, scoop it into the liners, filling each about three-quarters of the way full. Bake the pans for 15-20 minutes, or until the cupcakes are golden and bounce back when lightly touched in the middle.
After baking, allow the cupcakes to rest in the pan for 5 minutes, then transfer them to a wire rack to cool completely. This is important—if the cupcakes are even slightly warm, your frosting might melt right off!
While the cupcakes cool, make your frosting. Using a large bowl, beat the softened butter and cream cheese on high speed for 2-3 minutes until the mixture is pale, light, and airy.
Begin by gradually adding the powdered sugar, then mix in the milk, lemon juice, lemon zest, and vanilla. Keep mixing until the frosting reaches a smooth and creamy consistency.
Adjust the consistency by adding more powdered sugar if you prefer a thicker frosting, or a bit more milk to loosen it up if it’s too thick.
Once the cupcakes are fully cooled, spread or pipe the frosting on top. Don’t forget the extra sprinkles to give them that signature Funfetti charm. And just like that, your batch of colorful, delicious cupcakes is ready to enjoy!