In large bowl, combine flour, oats, baking powder and salt; mix well.
In another mixing bowl, combine milk, egg and oil; blend well. Add liquid ingredients to dry ingredients all at once; stir just until it gets mixed well.
Heat skillet over medium-high heat and lightly grease it.
For every pancake, pour 1/4 cup or 1 full ladle of batter into hot skillet.
Turn when tops are covered with bubbles and edges look cooked. Don't turn again and again.
Plate the pancakes and top up with vanilla frosting with few rainbow sprinklers on top.