In a large bowl, combine softened cream cheese and confectioners' sugar. Whip together using a hand mixer until light and fluffy.
Add the cake mix, Greek yogurt, and vanilla extract, mixing until thoroughly blended and creamy.
Fold in the sprinkles and mini M&M's, ensuring even distribution.
Spoon the mixture into a decorative serving dish and top with additional sprinkles.
Enjoy immediately with graham crackers, pretzels, or fresh fruit, or chill in the refrigerator for about half an hour for a thicker consistency.