1Heat oven to 375°F. Line bottom of 9x5-inch loaf pan with plastic wrap. In large bowl, beat sugar, butter and shortening with electric mixer on medium speed until well blended. Beat in egg, milk and vanilla. Stir in flour, baking soda and salt until dough forms.
2Divide dough into 3 parts. Knead 1 food color into each part of dough. Press one of the colored doughs in bottom of pan. Top with remaining colored doughs, pressing each layer firmly to seal.
3Turn pan upside down; remove plastic wrap from dough. Cut dough lengthwise into thirds. Cut each third crosswise into 16 slices. On ungreased cookie sheets, place slices about 2 inches apart. Sprinkle with candy sprinkles.
4Bake 9 to 11 minutes or until bottoms are light golden brown. Cool 1 minute; remove from cookie sheets to cooling racks.