Beat softened butter on medium speed with an electric mixer or stand mixer. Beat for 3 minutes until smooth and creamy.
Add powdered sugar, cream, and vanilla extract with the mixer running on low. Increase to high speed and beat for 3 minutes. Note: If the frosting is too thick, you can add a little more cream. Just add one tablespoon at a time, then mix thoroughly until you get the consistency you like.
Now it's ready for filling and frosting your cake. Or you can use it to decorate cupcakes. You will have enough frosting for an 8-inch round two layer cake (filled and frosted) or 24 cupcakes.
Notes
If you don't have heavy cream, you can use milk or water instead. If using milk or water, I would try 3 tablespoons instead of ¼ cup. If it's too thick, add another tablespoon.