01 - Preheat the oven to 350°F. Line a 12-cup muffin tin with cupcake liners.
02 - In a medium bowl, whisk together the flour, baking powder, baking soda, and salt until well combined.
03 - In a large bowl, beat the butter and granulated sugar until light and fluffy, about 2-3 minutes.
04 - Beat in the eggs one at a time, then mix in the vanilla and peppermint extracts until incorporated.
05 - Add the dry ingredients in three parts, alternating with the milk, beginning and ending with dry ingredients. Mix until just combined.
06 - Stir in green food coloring until the batter reaches your desired shade.
07 - Divide the batter evenly among cupcake liners, filling each about 2/3 full.
08 - Bake for 16-18 minutes, or until a toothpick inserted into the center comes out clean. Let cool completely on a wire rack.
09 - Beat the cold heavy cream with powdered sugar, peppermint extract, and food coloring until stiff peaks form.
10 - Pipe or spread the frosting onto cooled cupcakes. Top with green sprinkles and a maraschino cherry if desired.