Line an 8x8 baking pan with parchment paper, then spray the paper with nonstick cooking spray.

In two separate bowls, place white chocolate chips in one and semi-sweet chocolate chips in the other. Divide the sweetened condensed milk, adding about 7 oz to each bowl.

Heat the semi-sweet chocolate mixture in the microwave for 30-second increments, stirring until melted. Stir in 1 tsp of vanilla extract and spread into the prepared pan.

Melt the white chocolate mixture in the microwave using 30-second increments. Stir in the remaining 1 tsp of vanilla extract and fold in the Christmas sprinkles before spreading it over the semi-sweet layer.

Sprinkle extra Christmas sprinkles on top and refrigerate for at least one hour until firm. Slice into squares and enjoy!