I baked a batch of Red Velvet Cupcakes (recipe found here) recently for my nephew's first month baby shower and had frosted the cupcakes with Cream Cheese Swiss Meringue Buttercream.
For normal frostings on cakes and cupcakes, I will use the Swiss Meringue Buttercream (SMBC) recipe here. However, for red velvet cakes, I will add in whipped cream cheese to my SMBC have a Cream Cheese Swiss Meringue Buttercream.