Line a 9 x 9" baking pan with parchment paper, leaving some overhang. Spray with non-stick baking spray. Set aside.
In a large saucepan, combine the sugar, butter, and heavy whipping cream and place over medium heat until the sugar is dissolved.
Bring the mixture to a boil, while stirring consistently.
Remove from heat and stir in the white chocolate chips and marshmallow creme and mix until smooth.
Pour half the mixture into a heatproof bowl.
Mix 1 teaspoon of cotton candy flavoring and a few drops of pink food coloring into one half of the mixture.
Mix the other teaspoon of cotton candy flavoring and a few drops of the purple food coloring into the other half of the mixture.
Scoop tablespoons of the purple fudge and scatter dollops into the prepared baking pan.
Scoop tablespoons of the pink fudge and scatter dollops next to the purple mixture.
Repeat steps 8-9 until all the fudge mixture has been used.
If using, scatter sprinkles over the top of the fudge.
Place into the fridge overnight to harden.
When set, lift the fudge out of the pan using the parchment paper overhang.
Cut into 1½-inch squares and enjoy!