REMOVE any un-popped kernels from the popcorn and spread popcorn on a large baking sheet.
MELT the white chocolate on 50% power in the microwave. Stirring every minute or so until the chocolate smooths out. Stir in the oil and cake mix until smooth.
ADD 3 Tablespoons sprinkles.
POUR over the popcorn and gently mix until the popcorn is coated.
SPRINKLE on an addition 1-2 Tablespoons of sprinkles if desired.