In a large mixing bowl, combine 1 can of sweetened condensed milk and ½ cup of softened unsalted butter. Blend together with a hand mixer on medium speed for 2-3 minutes until smooth.

Gradually sift in 4 cups of powdered sugar into the milk and butter mixture, starting on low speed to prevent flying sugar. Mix for 3-5 minutes until a thick dough forms.

Stir in 1 teaspoon of peppermint extract, and if desired, mix in a few drops of food coloring. Continue mixing for 1-2 minutes until well combined.

If the dough is too soft, cover and chill in the refrigerator for 10-15 minutes.

Roll tablespoons of dough into 1-inch balls or use cookie cutters for fun shapes. Place on a parchment-lined baking sheet.

Let mints sit at room temperature for 1 hour to firm up completely.

Transfer mints to an airtight container. They can be stored at room temperature for up to one week.