Preheat your oven to 350 degrees.
Add your ice cream and self-rising flour to a mixing bowl and mix on low-medium until well incorporated and a dough is formed.
Add in a couple TBSP of rainbow sprinkles and stir until well incorporated.
Layer a loaf pan with parchment paper and pour the dough in.
Bake in the oven for 45 minutes, or until the top is golden brown.
While the bread is cooling, make the icing by stirring together the powdered sugar, milk, and vanilla extract until smooth. Pour the desired amount of icing over the bread.
Immediately add more rainbow sprinkles all over the icing.
Allow the icing to "harden". Slice and serve!