Heat a skillet to medium-low and add butter to the pan. Once the butter has melted add hot sauce to the pan. Stir to incorporate into the butter.
Add honey to the butter and hot sauce. Stir until completely combined. Continue to heat on medium-low for a few minutes until it has heated through.
Adjust the spice levels as you like. Add more honey for less spice and a few dashes of Tabasco sauce for more spice.
Remove from heat and enjoy on your favorite recipes!