Salt to taste (if you are using salted peanuts, you probably won’t need to add any extra salt.)
Thoroughly process the peanuts in a food processor or high-powered blender until they are finely chopped.
While the processor is running, stream in a bit of olive oil. You may have to turn off the processor for a minute, remove the lid and scrap the bottom of the bowl in order to make sure everything is incorporated well enough.
Next, stream in the honey in the same manner, if desired.