Place peppercorns in oven at 350F in skillet or baking sheet. Toast, shaking pan every couple minutes until lightly golden brown, about 3-7 minutes.
Stir together honey, peppercorns, lime zest and juice in a small bowl, then season with salt and pepper.
Cover and sit at room temperature at least 30 minutes, or refrigerate up to a day. Bring to room temperature before serving.