Step 1

Heat the oil in a medium saucepan over medium heat. Once hot, add the minced shallots and garlic and sauté for about 2 minutes.

Step 2

Next, add the hoisin sauce, peanut butter, water, and coconut milk if using. Let simmer over low-medium heat for another 2 minutes, whisking regularly to combine.

Step 3

Remove from heat and let cool to room temperature. Transfer to small bowls, top with crushed peanuts and chopped chili to taste, and use as a dip for spring rolls.

Step 4

This peanut dipping sauce will keep for up to 5 days in the refrigerator.