In a large bowl, combine the coconut flour, oat flour, baking soda and cinnamon.
In a separate bowl combine the mashed bananas, applesauce, oil and vanilla extract, then pour into the bowl with dry ingredients and whisk together. Add 1/3 cup of natural sprinkles and mix in, if desired (or leave out if keeping this cake sugar free).
Lightly grease three 4 inch cake pans with coconut oil and spread the batter into the pans.
Bake for approximately 30 minutes, or until a toothpick comes out clean.