Add the green cabbage, red cabbage, carrots, bell pepper, cucumber, and green onions to a large mixing bowl.
Add the cilantro, mint, chopped peanuts, and sesame seeds.
In a separate bowl, whisk together the peanut butter, lime juice, soy sauce, rice vinegar, honey or maple syrup, sesame oil, garlic, ginger, and sriracha if using.
Add warm water, 1 tablespoon at a time, until the dressing is smooth, creamy, and pourable.
Pour the dressing over the salad just before serving.
Toss well until all the vegetables are lightly coated with the dressing.
Taste and adjust as needed with more lime juice for brightness, soy sauce for saltiness, or honey for sweetness.
Serve immediately with extra peanuts, herbs, or lime wedges if desired.