Preheat oven to 350°F (175°C) and line a muffin tin with cupcake liners.
In a bowl, whisk together flour, baking powder, and salt.
In a separate bowl, cream the butter and sugar until light and fluffy.
Beat in eggs one at a time, then add vanilla extract.
Alternate adding the flour mixture and milk to the wet ingredients, beginning and ending with flour. Mix just until combined.
Fill cupcake liners 2/3 full and bake for 16–18 minutes, or until a toothpick comes out clean.
Let cupcakes cool completely before frosting.
For the frosting, beat butter until creamy. Gradually add powdered sugar, then add vanilla and cream until desired consistency.
Divide the frosting into separate bowls and tint each with a different gel food color.
Spoon colored frosting side-by-side into a piping bag fitted with a large star tip.
Pipe swirls onto cooled cupcakes and decorate with glitter, sprinkles, pearls, and mermaid tails.