Add the butter and shortening to a large bowl.
Mix until smooth and creamy.
Add the vanilla extract and 1 cup of powdered sugar.
Mix on low speed, then gradually increase to medium speed until the mixture is completely combined.
Add the remaining powdered sugar, milk, and food coloring.
Mix on low speed, then gradually increase to high.
Beat for 2 to 3 minutes until light and fluffy. If the frosting is not smooth, add 1 tablespoon of milk and beat on medium-high speed for 4 to 5 minutes, or until the frosting is fluffy.
You can use tip #233 or #16 for decorating your cupcakes.