Add room temperature cream cheese and butter to the bowl of a stand mixer with the paddle attachment or hand mixer. Cream on medium-high speed for 2-3 minutes until there are no lumps.
For airy cupcake frosting, increase to medium-high speed for 1 minute. For smooth frosting for cakes, bring the speed down to low to get the air bubbles out.
Notes
This recipe makes about 3 cups of frosting. 1 serving is ¼ cup.Use room temperature butter and cream cheese so they're easy to cream together.Storage: Store the frosting in the refrigerator in an airtight container for up to 5 days. Bring to room temperature and re-whip with a mixer.Freezing: Transfer leftover frosting to a sealed container and freeze for up to 3 months. Before using, let thaw overnight in the refrigerator. Mix to return to a creamy consistency.