I use the same crusting butter cream I use on my cakes for my basic vanilla cupcakes. It doesn't require refrigeration. I've also used a cream cheese buttercream. It just depends on the flavor I'm going for.
I use Butter Cream Dream here on CC for my butter cream. For cream cheese, I usually make a cream cheese icing and mix in some of my butter cream to give a stiffer & fluffier consistency. I've also used a cold frosting -- cream cheese, sour cream, butter, sugar (not powdered), cool whip and vanilla (or other flavoring).
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