¼ cup 60% to 70% tub-style vegetable oil spread, slightly softened
¼ cup sugar-free caramel ice cream topping
¼ teaspoon vanilla extract
In a medium bowl, beat cream cheese with an electric mixer on medium speed until smooth. Beat in vegetable oil spread until smooth. Gradually beat in caramel topping and vanilla until smooth. Cover and chill frosting for 4 to 24 hours before spreading on cupcakes.