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When ready to cook, start the Traeger on Smoke with lid open until fire is established (4-5 minutes). Increase temperature to 350 degrees F and preheat, lid closed, for 10 to 15 minutes.
Add the nuts to a baking pan. Roast nuts for 4 minutes, shake pan, then roast another 3 to 5 minutes or until the nuts are lightly browned. Set aside and allow to cool.
To make crunchy peanut butter, add 1/3 cup of the roasted peanuts to a food processor. Pulse 6 to 8 times, or until the peanuts are chopped into small pieces. Transfer chopped peanuts to a bowl and reserve for later.
Add the roasted peanuts to food processor. Process 1 minute then scrape sides of bowl with a rubber spatula. Process another 2 to 3 minutes until the peanut butter is shiny and smooth.
Add your desired amount of salt and honey and process until combined. Check the consistency; if it seems too thick, add oil a teaspoon at a time, until desired consistency. For crunchy peanut butter, stir in the reserved peanuts.
To store, transfer the peanut butter to a food-safe container, cover and refrigerator up to two months. If the peanut butter separates, use a spoon to stir it until it is well blended. For long term storage, freeze indefinitely. Enjoy!