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Place two heaping spoonfuls of prepared cake mix in each of 6 small bowls. Reserving the rest of the mix.
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Use the food coloring to dye each bowl red, orange, yellow, green, blue and purple to your desired color intensity.
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Grease and flour a fluted bundt pan.
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Pour one cup of reserved white cake mix into the bottom of the pan. Carefully, spoon each colored batter, one at a time, around the pan, layering each on top of the other being careful not to touch the sides of the pan. If the colored batter begins to get too close to the side, spoon some remaining white batter to fill in.
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Top colored layers with remaining white batter.
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Bake according to package directions. Cool for 10 minutes then remove from the pan.
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Whisk together confectioners sugar and heavy cream to form a glaze. Pour the glaze over the top of the warm cake and top with gold sprinkles.