In 2-quart saucepan, heat 1/3 cup butter over medium heat, stirring constantly, until light golden brown; cool slightly. Stir in powdered sugar. Stir in 3 tablespoons of the milk until smooth. Add additional milk, 1 teaspoon at a time, until desired consistency. Spoon frosting over cake, letting some run down sides of cake. Garnish with 1/4 cup chopped apricots.