Preheat the oven to 350°F. Grease two 8-inch cake pans with Crisco and dust with flour to help easily release the cake after it is baked. I also line the bottom of the pans with parchment paper to ensure they don’t stick.
In a large mixing bowl, combine the sugar, vegetable oil, butter, eggs. egg yolks and vanilla extract. Beat on medium speed until the eggs and oil are well incorporated and the batter is lighter in color, about two minutes. Scrape down the bowl as needed. Next mix in the sour cream and beat until well combined.
In a separate bowl, combine the remaining dry ingredients. Alternate adding half the dry ingredients and half the buttermilk at a time and mix just until the flour starts to incorporate. Then add remaining dry ingredients and buttermilk and beat until well combined. Use a spatula to scrape down the sides of the bowl and stir the batter from the bottom to the top to ensure it’s well mixed. Mix in the sprinkles by hand.
Divide the cake batter evenly between the two 8-inch pans. Bake at 350° F for 25-38 minutes. Check the cakes for doneness by inserting a toothpick into the center of the cake. If the toothpick comes out clean, the cake is done. Allow the cake to cool in the pans for 15 minutes. Then, gently run a knife around the edges of the cake and flip them out of the pan and onto a rack to cool completely. Once the cake is cooled, you can prepare the ice cream.