Bring a large pot of water to a rolling boil over high heat. Add the rice noodles and cook according to package instructions, usually about 6-8 minutes, until al dente. Drain and rinse them under cold water.

In a medium mixing bowl, whisk together creamy peanut butter, soy sauce, honey, rice vinegar, and sesame oil. Add minced garlic, grated ginger, and red pepper flakes. Mix until smooth, adding warm water if necessary.

In a large mixing bowl, combine cooked noodles, shredded carrots, and sliced bell peppers. Pour the peanut sauce over and toss gently until well coated.

Portion the noodles into bowls and garnish with chopped green onions and cilantro. Squeeze fresh lime juice over before serving.

For a cold version, cover and chill in the refrigerator for about 30 minutes.