In a skillet over medium heat, add sliced bacon and cook for about 6-8 minutes until crispy. Transfer to a paper towel-lined plate to cool.

In a small mixing bowl, combine mayonnaise and sour cream. Add apple cider vinegar and honey, then season with salt and pepper. Whisk until smooth.

In a large mixing bowl, add thawed peas, diced red onion, and cubed cheddar cheese. Crumble cooled bacon into pieces and add to the bowl. Pour dressing over and fold until coated.

Cover the bowl with plastic wrap and refrigerate for at least 30 minutes before serving.