Preheat the oven to 350 degrees F. Spread the pecans on a rimmed baking sheet and toast, tossing once, until fragrant, about 8 minutes. Let cool.
Grind the pecans to a fine powder in a food processor. Add the butter, hot sauce and honey and pulse until combined and smooth. Using a rubber spatula, turn out the butter onto a sheet of plastic wrap and form into a log. Refrigerate until firm, about 2 hours. When ready to use, cut into discs.