In a medium bowl, whisk together the powdered sugar, corn syrup, and water until smooth. Add the vanilla and almond extracts and stir well.
Divide the mixture into as many small bowls as you have food coloring colors. Add a few drops of food coloring to each bowl and mix until evenly colored.
Transfer each colored mixture into separate piping bags (or sturdy zip-top bags with a tiny corner snipped off).
On a parchment-lined baking sheet, pipe small dots or lines of the colored mixtures to create your desired sprinkle shapes. Work quickly as the mixture will start to set.
Let the sprinkles dry completely at room temperature for at least 12-24 hours, or until hardened.
Once dry, gently break up any larger pieces and store your homemade sprinkles in an airtight container.
Notes
Get creative with your shapes and colors! These sprinkles are perfect for cakes, cookies, cupcakes, and more.