In a large mixing bowl, combine the shredded cabbage, grated carrots, sliced red bell pepper, sliced green onions, chopped cilantro, and sugar snap peas.

In a separate bowl, whisk together the peanut butter, soy sauce, rice vinegar, honey, grated ginger, minced garlic, and water until smooth.

Pour the peanut ginger dressing over the slaw and toss until all the ingredients are well coated. Serve immediately or refrigerate for up to an hour before serving.