Shred ½ pound Napa cabbage. Thinly slice 1 red pepper. Chop ¼ cup cilantro and reserve for a garnish.
Start a pot of water to boil.
In a small saucepan, whisk together ¼ cup peanut butter, ¼ cup rice vinegar, 3 tablespoons toasted sesame oil, 3 tablespoons soy sauce, 1 tablespoon honey, and 1 teaspoon Sriracha sauce. Cook the sauce over low heat until it is warm and slightly thickened.
When the water is boiling, cook noodles according to package directions.
Meanwhile, place the red pepper in a colander over sink. When the noodles are cooked, drain them over the red pepper in the colander to slightly cook the peppers. Transfer noodles, peppers, and cabbage to a serving bowl, add the sauce, and toss until combined.
To serve, garnish with chopped cilantro, fresh squeezed lime juice (a must!), and a generous helping of crushed peanuts.