Make one color at a time. In a saucepan over medium-low heat, combine 1 can condensed milk, 1 tbsp butter, and 1 pack of Jello powder.

Cook, stirring constantly, for 10-15 minutes until the mixture thickens significantly and pulls away from the bottom of the pan to form a dough-like mass.

Pour mixture onto a buttered plate and let cool to room temperature, then refrigerate for at least 1 hour until firm.

Grease hands with butter. Scoop small amounts of the mixture and roll into 1-inch balls.

Roll each ball in the shredded coconut until fully coated.

Repeat process for the second color batch. Store in an airtight container.