Preheat oven to 350°. Combine first 3 ingredients; stir to blend. Pour batter into a greased 9-inch round cake pan. Bake at 350° for 25-30 minutes or until a toothpick inserted in the center comes out clean. Cool completely. Slice cake in half horizontally. Frost between layers and top of cake with canned frosting. Sprinkle cake with colored sprinkles or edible confetti. Makes 10-12 servings.