Prepare cake mix according to package instructions.

Bake in 9x13" pan and cool. Poke holes in cake with the handle of a wooden spoon. Pour condensed milk evenly over cake and into holes. Combine thawed strawberries and ice cream topping syrup and mix well.

Spoon evenly over cake and into holes. Spread whipped topping over the top. Chop peanuts and sprinkle on top of whipped topping. Chill before serving.