Preheat oven to 350 F. Place cupcake liners in muffin pans.
In a medium bowl with a hand mixer or in a stand mixer, combine and mix all ingredients on medium speed for 1 to 1 1/2 minutes. If desired, stir in a few drops of red food coloring until batter is pink.
Pour mixture into prepared muffin pan. Bake 20 to 24 minutes or until toothpick inserted into cupcakes comes out clean. Let cool completely.
Meanwhile, prepare the frosting. Place butter in a large bowl and beat with electric mixer until light and fluffy. Add 5 cups of powdered sugar, salt, lime juice, and lime zest. Mix until a thick and creamy consistency is achieved. Add more powdered sugar until the frosting is of a good spreading (or piping) consistency. Mix in a tiny amount of green food coloring if you’d like the frosting to have a green tint.
Pipe or spread frosting atop cooled cupcakes. Top each cupcake with one of the reserved cherries. Poke one half of a Twizzlers Cherry Twist into the top of each cupcake, to resemble a straw.
If you’re like me and pile on the frosting, you may need to double the frosting recipe. If you have any frosting leftover, it’s a bonus!