Cook the rice noodles according to package instructions. Drain and rinse under cold water to stop the cooking process. Set aside.
In a large bowl, combine the shredded carrots, red bell pepper, cucumber, red cabbage, green onions, and cilantro.
In a separate bowl, whisk together the peanut butter, soy sauce, rice vinegar, honey, sesame oil, lime juice, garlic, and ginger until smooth. If the sauce is too thick, add water one tablespoon at a time until desired consistency is reached.
Add the cooked noodles to the vegetable mixture and pour the peanut sauce over the top. Toss everything together until well combined.
Serve immediately, garnished with chopped peanuts on top, or refrigerate for 30 minutes to allow the flavors to meld.