Heat 1/4 cup toasted sesame oil and 1 teaspoon crushed red pepper flakes (based on how spicy you'd like it) in a small saucepan over medium heat for two minutes.
Remove from the heat and stir in 3 tablespoons rice vinegar, 3 tablespoons soy sauce, and 2 tablespoons honey until combined. Set aside to cool.
Using a sharp knife or food processor, thinly slice 1/2 head green cabbage and 1/2 head purple cabbage, removing and discarding the cores. Separate some of the leaves before slicing to avoid thick pieces. Transfer to a large mixing bowl.
Shred 2 medium carrots using a cheese grater or food processor. Prepare 1/2 cup chopped fresh cilantro, 1/2 cup sliced green onions, and finely chop 1/2 cup honey roasted peanuts. Add to the bowl with the cabbage.
Pour the cooled dressing over the slaw. Using tongs, toss until well coated. Refrigerate for at least 30 minutes before serving.
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Notes
Want your coleslaw to last longer? To keep the cabbage from weeping, place the shredded cabbage in a colander and toss with 1 teaspoon salt. Let sweat 1 to 4 hours. Rinse with cold water and pat completely dry.