Place the heavy whipping cream into a medium size bowl and beat for 3-5 minutes until stiff peaks form.
Add the sweetened condensed milk and beat for another 2-3 minutes. Add 1-2 teaspoons of cotton candy flavoring and mix.
Divide mixture into 3 bowls. Leave 1 bowl white and add 2-3 drops of food coloring to the other 2 bowls and mix well.
Add dollops of each color to the bottom of the pan and spread with a knife. Add sprinkles across the top and repeat steps.
Stick in freezer for 4-5 hours or overnight. Take out and enjoy!
Optional: Add a little bit of cotton candy as a topping!