Prep the pans. Heat oven to 350°F (175°C). Line a 12-cup muffin tin with paper liners.
Whisk dry ingredients. In a bowl, combine flour, baking powder, baking soda, and salt.
Set aside.
Mix the wet base. In a large bowl, whisk sugars, melted butter, oil, eggs, sour cream, vanilla, and root beer extract until smooth.
Add the root beer. Gently whisk in the root beer. It will foam a bit—this helps with lift.
Combine. Add dry ingredients to the wet and stir just until no dry streaks remain. Do not overmix.
Fill and bake. Divide batter among liners, about 2/3 full.
Bake 16–20 minutes, until tops spring back and a toothpick comes out clean.
Cool completely. Let cupcakes cool in the pan 5 minutes, then move to a rack to cool fully before frosting.
Make the frosting. Beat butter until creamy. Gradually add powdered sugar, vanilla, and a pinch of salt. Beat in cream, 1 tablespoon at a time, until fluffy and pipeable.
Frost and decorate. Swirl frosting high like soft-serve.
Finish with a cherry and a trimmed mini straw for the full float effect.