Classic Cream Cheese Frosting

Ingredients:
Yield: Approximately 3 cups of frosting (enough to frost 24 cupcakes)

1/2 cup (1 stick) salted butter, softened
8 ounces cream cheese, softened
3 to 4 cups powdered sugar (depending on your desired consistency & sweetness of frosting)
2 teaspoons pure vanilla extract

Instructions:

Using an electric mixer, beat together the butter and the cream cheese. Slowly blend in the powdered sugar and vanilla, then beat until smooth and well-combined.
Notes

The longer you whip this frosting, the lighter and fluffier it will become.

source:allrecipes.com