Preheat your oven to 350°F (175°C) and line a cupcake pan with liners.
In a large mixing bowl, cream the softened butter and granulated sugar together until light and fluffy.
Add in the eggs, one at a time, mixing well after each addition, followed by the buttermilk and vanilla extract.
In a separate bowl, whisk together the flour, baking powder, baking soda, and salt.
Gradually add the dry ingredients to the wet mixture, mixing just until combined, then fold in the white chocolate chips and peppermint extract.
Spoon the batter into the lined cupcake pan, filling each liner about two-thirds full.
Bake in the preheated oven for 18-22 minutes, or until a toothpick inserted into the center comes out clean.
Allow the cupcakes to cool in the pan for about 5 minutes before transferring them to a wire rack to cool completely.
While the cupcakes cool, prepare the frosting by beating together the softened butter, powdered sugar, and heavy cream until creamy and fluffy.
Once cooled, frost the cupcakes generously with the white chocolate frosting, and finish with crushed candy canes on top for garnish.