Soak saffron strands in 2 tablespoon of warm milk, set aside.
Bring the milk to a boil in a heavy-bottomed pan or pot over medium-high heat.
As soon as it starts to boil, reduce the heat to moderate and continue cooking; keep stirring continuously with a wooden or a rubber spatula.
Scrape the bottom and sides of the pot at intervals to prevent scorching and sticking.
Making Peda is a long process, so be prepared to stand at the stove for about an hour.
In about 30 minutes, milk will reduce in half and will start getting creamier and thicker.
When the milk becomes paste-like, after about 50 minutes, add the sugar, cardamom powder, and soaked saffron strands. Mix well.
Continue cooking, constantly stirring, until the mixture pulls away from the sides and bottom of the pan.
The mixture will turn into a solid, fudge-like mass.
Add butter or Ghee to the mixture and mix well.
Turn off the heat and transfer the Peda mixture onto a plate, and spread.
Do not let the mixture cool completely, but when it’s cool enough to handle, scoop it with a spoon and roll it into a ball.
Shape and decorate the Peda as you desire.
You can use a candy mold, a cookie shape disc, or simply a fork to decorate Milk Peda.
Place the Peda in an airtight container and refrigerate for up to two weeks.