Step 1: Prepare the Crust

1. In a medium bowl, combine the graham cracker crumbs, granulated sugar, and melted butter. Mix until the crumbs are evenly coated and resemble wet sand.
2. Press the mixture firmly into the bottom and up the sides of a 9-inch pie dish to create an even layer. Set aside.

Step 2: Make the Filling

1. In a large mixing bowl, beat the softened cream cheese with an electric mixer until smooth and creamy.
2. Gradually add the powdered sugar and vanilla extract, mixing until well combined and smooth.
3. In a separate bowl, whip the heavy cream until stiff peaks form.
4. Gently fold the whipped cream into the cream cheese mixture until fully incorporated. Then, fold in the rainbow sprinkles.

Step 3: Assemble the Pie

1. Spoon the filling into the prepared graham cracker crust, smoothing the top with a spatula.
2. Cover the pie with plastic wrap and refrigerate for at least 4 hours, or until set.

Step 4: Serve

1. Before serving, sprinkle additional rainbow sprinkles on top of the pie.
2. Slice and serve chilled. Enjoy.