Preheat oven to 350 ° F.
Place bacon on a rack over a rimmed baking sheet and bake in the oven 30 minutes, until crisp.
Drain on paper towels and cut crosswise into 1/2 inch strips. (You can pan fry or microwave the bacon to desired crispness instead of baking it if you would like.)
Leave oven on.
In a large bowl, toss together bacon, peanuts, pineapple, sesame seeds, soy sauce, honey and cayenne.
Spread on a rimmed baking sheet.
Bake 15 to 20 minutes, stirring once.
Bacon should be lightly browned.
Stir to cool.
Add salt if needed.
*This recipe makes 4 1/2 cups.*
**This recipe brought to you courtesy of Lucky Joe's Tiki Room, Milwaukee, Wisconsin.**