In a large pitcher, combine the lemon juice and granulated sugar.
Stir well until the sugar is completely dissolved.
Add the cold water and mix until well combined.
Add a few drops of pink food coloring to the lemonade. Stir until the color is evenly distributed.
In a mixing bowl, pour the heavy whipping cream.
Using an electric mixer, beat the cream on medium-high speed until it starts to thicken.
If desired, add the powdered sugar and continue beating until stiff peaks form.
Add a few drops of pink food coloring to the whipped cream and gently mix until the color is evenly distributed.
Fill a glass about three-quarters full with the prepared pink lemonade.
Add a few ice cubes if desired.
Gently fold a dollop of pink whipped cream into the lemonade. The cream will float on top.
Garnish each glass with a slice of lemon if desired.
Serve immediately and enjoy!