In a large mixing bowl, combine the softened cream cheese and vanilla yogurt. Use a hand mixer or a whisk to blend until smooth and creamy.
Gradually add the powdered sugar, mixing until fully incorporated and the dip is fluffy.
Stir in the vanilla extract and almond extract (if using) until well combined.
Gently fold in the sprinkles, reserving a few for garnish.
Transfer the dip to a serving bowl and sprinkle the reserved sprinkles on top.
Chill in the refrigerator for at least 30 minutes before serving for the best flavor and texture.
Serve with graham crackers, animal crackers, or fresh fruit for dipping.