Heat the dry cake mix in the microwave for 30 second intervals, stirring every 30 seconds, until it reaches 165°F on a candy thermometer. Alternatively, spread the cake mix on a baking sheet and bake at 350°F for 5-7 minutes until it reaches 165°F.

Let the cake mix cool for 10 minutes until it is cool to the touch.

In a large mixing bowl, combine the cooled cake mix with Cool Whip, vanilla pudding cups, and rainbow sprinkles. Beat with a hand mixer until smooth and well combined.

Serve the dip with graham crackers, animal crackers, Teddy Grahams, fruit, or any preferred dippers.