Preheat oven to 350. Line muffin tins with paper liners. Make cupcakes according to box directions, substituting limeade concentrate for water and adding food color if desired. Allow cupcakes to completely cool. Cream butter, cherry liquid and powdered sugar in mixing bowl. Add red food color if desired. Slowly add additional cherry juice until desired consistency icing is reached. Frost cupcakes and optionally top with a cherry and lime slice.
Recipe by A Day in Motherhood at https://www.adayinmotherhood.com/cherry-limeade-cupcakes/