With an electric mixer (hand or standing), cream butter, sugar, vanilla, and salt together starting at a slow speed (takes about 2 minutes to come together). Continue to cream for a couple minutes until light and fluffy. Add cream cheese 2 ounces at a time and beat 2 more minutes (scrape down as needed).
Place frosting tip (2D or 1M) in a piping bag and fill with frosting. Pipe frosting onto cupcakes starting at the outside of the cupcake and work you way in as you circle up.
Using a spoon, drizzle the caramel over the tops of the frosted cupcakes. Sprinkle with chopped nuts.
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