In a medium mixing bowl, whisk together the flour, sugar, baking powder, and salt until combined. Add the milk, vegetable oil, egg, and vanilla. Whisk until smooth. Stir in the ¼ cup sprinkles.

Heat a griddle over medium-high heat and grease it. Ladle the batter onto the hot griddle to form 4-inch pancakes. Cook until bubbles begin to form on the surface, then flip. Continue cooking until each side is golden brown.

To keep the pancakes warm, cover them with a kitchen towel, place them in a chafing dish, or hold them in a 200°F (95°C) oven for up to 20 minutes.

To serve, place a dollop of whipped cream in the center of a pancake, press a strawberry cut side down into the cream, and top with a small dot of whipped cream. Add additional sprinkles if desired.