Prep the pans: Heat oven to 350°F (175°C).
Line 12–14 muffin cups with paper liners. For taller domes, fill only 12 and bake a touch longer.
Mix dry ingredients: In a medium bowl, whisk 1½ cups all-purpose flour, 1½ teaspoons baking powder, and ½ teaspoon fine salt. Set aside.
Cream the fats: In a large bowl, beat ½ cup unsalted butter with ¼ cup neutral oil and 1 cup granulated sugar until light and fluffy, about 2–3 minutes.
Add eggs and flavor: Beat in 2 large eggs, one at a time.
Mix in 2 teaspoons vanilla extract and ¼ teaspoon almond extract (optional) until smooth.
Combine wet and dry: Stir ½ cup sour cream into ½ cup whole milk. Add the dry ingredients to the butter mixture in two additions, alternating with the milk mixture. Mix on low just until combined.
Do not overmix.
Fold in sprinkles: Gently fold ½ cup rainbow jimmies into the batter with a spatula. Stop as soon as they’re evenly distributed.
Fill and bake: Divide batter among liners, filling about ⅔ to ¾ full. Bake 18–22 minutes, until the tops spring back and a toothpick comes out with a few moist crumbs.
Cool completely: Let cupcakes cool in the pan 5 minutes, then transfer to a rack to cool fully before frosting.
Make the frosting: Beat 1 cup (2 sticks) unsalted butter until creamy.
Add 3–3½ cups powdered sugar, 1 teaspoon vanilla, a pinch of salt, and 2–3 tablespoons milk or cream. Whip until smooth and fluffy, 2–3 minutes. Adjust milk for consistency.
Decorate: Pipe or spread frosting on cooled cupcakes.
Finish with extra rainbow sprinkles. Serve and celebrate.