Trim the ends off of the red chili peppers and cut them in half lengthwise.
Remove the seeds from all but 1 or 2 peppers for a more mild sauce. Leave more seeds for a hotter sauce. I chose to leave ALL of the seeds in my test batch and it was pure glorious fire, but others may not agree.
Add the chilis, the rice vinegar, and the garlic to a food processor or blender. Blend or pulse to chop up the peppers. It doesn't need to be smooth but the peppers should be in small pieces and not large chunks.
Pour the chili mix from the blender or food processor into a small saucepan and add the honey. Bring to a low boil and cook for 20 minutes, stirring frequently. The sauce will thicken as it cooks.
Remove from the heat and allow to cool. It tastes amazing on fried rice!