Preheat the oven to 350°F (175°C). In a mixing bowl, cream together the softened butter, granulated sugar, and brown sugar until light and fluffy.

Add the eggs one at a time, mixing well after each addition. Stir in the vanilla extract.

In a separate bowl, whisk together the flour, baking powder, baking soda, and salt. Gradually add the dry ingredients to the wet ingredients, mixing until just combined.

Scoop tablespoon-sized balls of dough onto a baking sheet lined with parchment paper, spacing them about 2 inches apart.

Press the tops of the cookies gently to flatten slightly. Decorate each cookie with red and blue sprinkles and white chocolate chips.

Bake in the preheated oven for 10-12 minutes or until the edges are lightly golden. Let cool on the baking sheet for a few minutes before transferring to a wire rack to cool completely.