In the bowl of a food processor grind the peanuts until they are fine and start to back down into the bowl.
Add peanut oil one tablespoon at a time with food processor on. The peanut butter will be quite soft at this point.
Then add in the honey and mix again. The peanut butter will become more thick after the honey is added. Transfer to a container and refrigerate. If you find the peanut butter too thick, add a few drops of peanut oil and mix lightly.