Heat the sugar syrup: In a saucepan, heat sugar and a little water over medium heat until it reaches 240°F (soft ball stage) on a candy thermometer.
Whisk the egg whites: While the syrup is heating, beat the egg whites in a clean bowl until soft peaks form.
Pour the syrup: Slowly drizzle the hot syrup into the egg whites while beating on low speed, then increase speed and whip until the bowl is cool to the touch.
Add butter: Gradually add softened butter, one piece at a time, beating continuously until fully incorporated.
Mix in vanilla: Add vanilla extract and beat until smooth, silky, and fluffy.
Troubleshoot if needed: If the buttercream looks curdled, keep beating—it will come together! If too soft, chill for a few minutes before whipping again.
Use immediately or store: Use right away or refrigerate for up to a week. Rewhip before using.