Let Rhodes rolls thaw just until they are soft enough to cut with a pair of scissors.
Generously grease a bundt pan with baking spray.
In a shallow dish mix dry cake mix and granulated sugar. Melt butter in a shallow dish.
Cut half of the rolls in quarters. Coat each quarter roll in butter, then roll in cake mix and sugar mixture. Place rolls in prepared bundt pan.
Sprinkle a few candy sprinkles over the layer of rolls. It's easy to get carried away with the sprinkles because it seems like more sprinkles will be more fun! I've found that adding too many sprinkles isn't always best with this recipe because they settle to the bottom of the bundt pan then melt during baking. The bread actually is prettier if I contain myself!
Repeat process with remaining rolls.
Cover with greased plastic wrap and let rise until doubled in size. This usually takes about 2-3 hours and will depend on the temperature of your kitchen. At this point you can also put the monkey bread in the refrigerator until the morning.
Preheat oven to 350 degrees. Bake for 30-35 minutes. Check the bread about 20 minutes after baking and if it's getting over browned cover with aluminum foil for the rest of baking time.
Invert monkey bread onto a serving plate.