Combine all ingredients in a small sauce pan. Heat over medium-high heat until boiling. Turn down to a simmer and let simmer for 5-7 minutes, or until starting to thicken.
Remove from heat and either use immediately or cool and refrigerate.
Video
Notes
Adjust the sweet and spicy flavors by adding more or less honey or Sriracha sauce.Store in the fridge for up to 5 days. Thickens a lot in the fridge. Reheat in a small saucepan and it thins out again.