Mix Butter and Sugar: In a large bowl, use a whisk to mix the softened butter and powdered sugar together to avoid powdered sugar clouds. Then, use an electric mixer on medium speed until creamy and smooth, about 2-3 minutes.

Add Cherry Juice: Add the maraschino cherry juice to the butter and sugar mixture, mixing until well combined.

Add Milk: Gradually add the milk and continue to mix until the frosting reaches the desired consistency.

Color the Frosting: If using, add a drop of red food coloring and mix until the frosting is evenly colored.