In a small microwave-safe bowl, whisk together the gelatin and water; set aside.

In a large mixing bowl, beat the heavy whipping cream, powdered sugar, and vanilla extract with an electric mixer on medium-high speed just until thickened, but not to a stiff peak.

Heat the gelatin mixture in the microwave for 5 seconds until melted.

Very slowly drizzle the melted gelatin mixture into the whipped cream while beating on medium speed. Once the gelatin is incorporated, increase the speed to medium-high and beat until stiff peaks form.

Use immediately for decorating, or chill until use.