In a medium skillet, melt the butter.
Add the shallots and cook over moderate heat, stirring occasionally, until softened. Let cool.
Add shallots, goat cheese, cream cheese, and feta cheese in a food processor and puree until smooth.
Scrape the cheese mixture into a bowl, add fresh dill, 1 cup sesame seeds, 1 cup cranberries and 1 cup dry roasted peanuts.
Refrigerate until chilled, about 30 minutes.
Shape the cheese mixture into small balls then roll in a mixture of sesame seeds, cranberries and dry roasted peanuts to coat.
Serve with crackers, flat bread or bread sticks.