Clearly, Perrito narrowly missed drowning in the river. So, Death couldn't capture his soul (at a situation like that), and should hold him in contempt.
On the other hand, Death might also have great respect for Perrito because that puppy knows perfectly he must make the most of his life.
There are even theories that say that Death made the hole in the sock.
What are your points of view? What would Death say to Perrito if he met him in the Star sequence?