In a saucepan over medium heat, mix the sweetened condensed milk, cocoa powder, and salted butter. Stir continuously until thickened (about 5-7 minutes). Remove from heat and cool slightly.
Dip each strawberry in the cooled fudge mixture until fully coated, then place on a parchment-lined baking sheet.
Insert roasted peanuts into the sides as ears and add colored sprinkles for eyes.
Refrigerate for about 30 minutes until set before serving.