Line an 8x8 or 9x9 square baking dish with parchment.
Add the semi-sweet chocolate chips, half of the sweetened condensed milk, and 1 tbsp butter to a microwave safe bowl.
Microwave for 30 seconds, and stir well. If not melted, microwave for 15 seconds more and stir to combine. Once melted, stir in 1 tsp vanilla extract.
Spread the chocolate fudge mixture evenly into the bottom of your baking dish.
Refrigerate this for 30 minutes.
Then, add the white chocolate chips, remaining half of the sweetened condensed milk, and 1 tbsp butter to a microwave safe bowl. Repeat the process, microwave for 30 seconds, stir well, and microwave 15 seconds more if needed. Stir well to combine and stir in 1 tsp vanilla.
Layer the white chocolate fudge over the regular chocolate fudge.
Sprinkle the Christmas sprinkles over top.
Move the fudge to the refrigerator for at least 4 hours, or overnight.
Cut into squares and enjoy.
Notes
Storage: Store in an airtight container in the refrigerator for up to two weeks with parchment paper between layers.