In a large bowl, combine the green cabbage, red cabbage, carrots, snap peas, red bell pepper, green onions, peanuts, and cilantro.
In a separate bowl, whisk together the peanut butter, soy sauce, rice vinegar, honey, sesame oil, ginger, and garlic until smooth.
If the dressing is too thick, add water a tablespoon at a time until desired consistency is reached.
Pour the dressing over the salad and toss until everything is well coated.
Serve immediately or chill in the refrigerator for about 30 minutes to let the flavors meld.