Prepare the pan: Line a small square baking dish with parchment paper. This makes it easy to remove the fudge later.
Melt the base: In a medium saucepan over low heat, combine butter, peanut butter, and cream cheese. Stir constantly until smooth.
Add sweetener: Remove from heat. Mix in powdered sugar substitute and vanilla extract. Taste and adjust sweetness as needed.
Optional chocolate swirl: Fold in cocoa powder or chocolate chips gently if desired.
Chill: Pour mixture into prepared pan. Smooth the top with a spatula. Refrigerate for at least 2 hours until firm.
Cut and serve: Lift fudge from pan using parchment paper. Cut into squares and enjoy. Store leftovers in an airtight container in the fridge.