In a large mixing bowl, beat the softened butter on medium-high speed for 2–3 minutes, until light and creamy.
Add the marshmallow fluff and vanilla bean paste. Beat until smooth and fully combined, scraping down the sides of the bowl as needed.
Reduce the mixer speed to low and gradually add the powdered sugar, about 1 cup at a time, mixing until incorporated before adding more.
Once all of the powdered sugar has been added, increase the speed to medium-high and beat for 3–4 minutes, until light, fluffy, and airy.
Add 1 tablespoon of heavy cream and mix until smooth. If needed, add the remaining cream until the frosting reaches your desired consistency.
Use immediately to frost cupcakes, cakes, cookies, or bars.