Cut the butter into cubes. Place the butter into a large bowl and allow to soften on the counter.
Beat the softened butter with a mixer until light and creamy.
Sift ⅓ of the powdered sugar and the salt into the bowl.
Beat the sugar and salt into the butter.
Add the vanilla extract to the bowl and beat in.
Add the cream to the bowl and beat in until fluffy.
Beat more sifted powdered sugar into the bowl and scrape the sides of the bowl.
Add the remaining sifted powdered sugar to the bowl and beat until thick and creamy.
Divide the frosting into three bowls.
Add red food coloring to one bowl and blue food coloring to the other bowl. Leave one bowl uncolored.
Mix the food coloring into the frosting until evenly combined and there are no visible streaks of color left in the frosting.
Transfer the red, white and blue frosting to piping bags.
Pipe the frosting onto the cupcakes and decorate with sprinkles.
Enough frosting to frost 24 cupcakes.