Add the white chocolate chips to a medium bowl and set aside.

In a small saucepan, melt the butter. Stir in the heavy cream and bring to a simmer over medium heat.

As soon as the mixture comes to a simmer, pour it over the white chocolate chips. Allow the mixture to sit for 1-2 minutes to soften the chocolate.

Add the extracts and food coloring and whisk the mixture until smooth and all ingredients are fully incorporated. If needed, heat the mixture for 15 seconds at a time in the microwave if the chocolate has not melted all the way.

Cover the mixture with plastic wrap and chill in the refrigerator for 30 minutes to 1 hour.

Scoop 1 to 1 ½ tablespoons of the strawberry truffle mixture and form into balls, then roll the balls in the powdered sugar.

Refrigerate the truffles for another 30 minutes to 1 hour before serving.