Gather all your ingredients and tools.
Line an 8x8 inch baking pan with parchment paper.
In a saucepan, combine sweetened condensed milk and white chocolate chips.
Heat over medium heat until melted and smooth.
Remove from heat and stir in vanilla extract.
Add food coloring to achieve your desired hue.
Pour the mixture into the prepared baking pan.
Spread evenly and smooth the top with a spatula.
Decorate the top with colorful sprinkles and candies.
Refrigerate for at least 2 hours until set.