Prepare the Lemonade:
If you’re using freshly squeezed lemon juice, combine it with water to make lemonade. If you’re using store-bought lemonade, you can skip this step.
Blend the Frosted Lemonade:
In a blender, combine the vanilla ice cream and lemonade (and sugar, if desired). Add the cold water if you’d like a thinner consistency. Blend until smooth and creamy.
Adjust Consistency:
If the drink is too thick, you can add more lemonade or a splash of water and blend again until you reach your preferred texture. If it’s too thin, add more ice cream to thicken it.
Serve:
Pour the Frosted Lemonade into glasses. You can garnish with lemon slices or a wedge on the rim of the glass for an extra pop of citrus.
Optional:
For an extra touch, you can add ice cubes to the blender if you want the drink to be colder and more like a slush.