In a medium-sized saucepan, combine honey, chili flakes, apple cider vinegar, hot sauce, and optional cayenne pepper.
Place the saucepan over medium heat and bring the mixture to a simmer. Allow it to simmer for 3 to 5 minutes.
Once done, remove the saucepan from heat and transfer the mixture to a jar.
Allow the mixture to cool slightly, then adjust the taste if needed by adding more hot sauce for heat or vinegar for tanginess.
Let the mixture cool down further before serving.
