In a large mixing bowl, combine the cubed watermelon, diced cucumber, sliced red onion, chopped cilantro, and minced jalapeño pepper.
In a small bowl, whisk together the lime juice, olive oil, honey, salt, and pepper until well combined.
Pour the dressing over the salad ingredients and gently toss to combine, ensuring everything is evenly coated.
If desired, sprinkle crumbled feta cheese on top for added flavor.
Serve immediately or chill in the refrigerator for 30 minutes to allow the flavors to meld.