Cover the cashews in water and soak for 2 hours.
Grind the cashews in a blender using as little water as possible so that you have a thick cashew cream.
Add the dates and vanilla extract to the blender and continue to grind. Add as much water as needed to ensure that you end up with a smooth consistency. Keep it thick for frosting, or add a bit more water to make a glaze.
Store in the refrigerator and use within a week.