Measure 1 1/3 cups of peanuts and place to the side. Pour remaining peanuts into food processor. Puree peanuts until it becomes a thick, ball of paste.
Add honey and zest, if using, and continue to puree. Scrape down the sides of the bowl and continue to puree. With the processor running, drizzle in the oil until the entire amount has been added. Gradually add the water. You may not use the entire amount. You should have a smooth, creamy paste.
Add salt to taste. Run the processor for 10 seconds, taste your peanut butter and add more salt if you desire. Pour out peanut butter into a large mixing bowl and add reserved peanuts. Stir to combine.
Store in an airtight container and use on everything!!!