1. Beat butter and shortening at medium speed with an electric mixer until creamy. Gradually add powdered sugar, whipping cream, and salt, beating at low speed until blended. Add vanilla extract and, if desired, liqueur; beat at medium speed until smooth. (Prepare Peaches-and-Cream Frosting 1 recipe at a time.)
* 2 teaspoons almond extract may be substituted for liqueur.