In a large pitcher, combine freshly squeezed lemon juice and granulated sugar; stir until sugar dissolves completely

Add cold water to the pitcher and mix until well combined

Pour in grenadine or cranberry juice slowly until you reach the desired shade of pink

Fill glasses with ice cubes and pour the pink lemonade over the ice

In a chilled mixing bowl, beat the heavy whipping cream with powdered sugar and vanilla extract until soft peaks form and the texture is light and fluffy

Dollop a generous swirl of whipped topping over each glass of pink lemonade

Garnish with lemon zest or a lemon slice on the rim of the glass

Serve immediately and enjoy the creamy, citrusy refreshment