In a saucepan heat the cream and flour over medium heat, stirring constantly. Continue to cook until the mixture reaches a thick paste consistency. Remove from the heat and place in the icebox or freezer until chilled (do not freeze).
Meanwhile, in a large bowl, beat the butter and sugar together until smooth. Whisk in the vanilla.
Remove the flour mixture from the icebox/freezer and beat until smooth. Add it to the sugar mixture and beat on high until it is extremely smooth.