Drain and place cashews in blender. Pour water over top, about 3/4 to top of cashews. Blend on medium-high for about 3 - 4 minutes. Add water slowly to achieve desire consistency (more water will bring it to a milk-like texture).
Store in refrigerator for about a week or freeze for about 6 months. Re-blend upon use if frozen.
Note from Tina: I use cashew cream in a lot of sauces, whipped toppings, etc. It is so versatile! The key is to soak the cashews and blend long enough to get a really creamy consistency.