In a mixing bowl, whisk together soy sauce, peanut butter, and honey until smooth.

Add rice vinegar, sesame oil, garlic powder, five spice powder, and sriracha (if using). Mix thoroughly.

Slowly add water, one tablespoon at a time, whisking until the desired consistency is reached.

Taste and adjust flavors by adding more honey, soy sauce, or vinegar as needed.

Transfer to an airtight container and store in the refrigerator for up to two weeks.