Chill the Bowl and Cream. Place the large bowl of a stand mixer or mixer bowl in the refrigerator for 15 minutes or longer. Make sure your cup of heavy whipping cream is cold - NOT room temperature.
Add Ingredients. Pour the cold heavy cream into the chilled bowl. Add the sugar and vanilla extract.
Start Whipping on Low Speed. Begin with a low speed or lower speed to prevent splashing. This step lets air bubbles form gradually and evenly.
Increase to Medium Speed. After one minute, increase to medium speed. Continue whipping JUST until the cream thickens to your liking. This usually takes around 2 minutes depending on your speed, but the consistency changes quickly, so KEEP AN EYE ON IT. Overmixing will make it curdle.
Check Consistency. For a softer whipped topping, stop at soft peaks where the cream barely holds its shape. For frosting or piping, continue until stiff peaks form and the cream stands upright.
Serve or Store. Transfer to a serving dish or piping bag. Store leftovers in an airtight container in the refrigerator for up to three days.