In a mixer, beat the heavy cream, vanilla extract and cotton candy extract until stiff peaks form.

Gradually fold the sweetened condensed milk into the whipped cream until blended.

Divide the ice cream mixture evenly between two bowls.

Add blue pastel food color to one bowl, stirring until blended. Add pink pastel food color to the second bowl, stirring until blended.

Transfer the colors alternately ½ cup at a time into a freezer safe container, cover, and freeze 8 hours or overnight.