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-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 - 1 hour before serving.
Notes
After you have stirred all of the ingredients together, the melted butter may start to separate. Continue stirring so its fully incorporated.
Chilling the dough for just 30 minutes will result in a batter that is easier to scoop and roll. However, you will need to refrigerate them longer at the end for them to harden.
Use quality chocolate, my favorite is Ghirardelli.