After many years of searching for and trying many, many other recipes, this remains my favorite spicy peanut sauce. My favorite way to serve it is as a dipping sauce for long, fresh green beans, an idea I picked up from a caterer in Gainesville, FL (if I could remember her name, I'd give her credit).
Many years ago, I had an edition of MasterCook recipe management software. As technology changed, my software became out-of-date and unusable, but I didn't replace it because I saw the benefit of web-based software such as RecipeZaar (why try to manage recipes all by yourself when you can be part of a community and do it together). After years without this recipe (I never could find where I wrote it down or printed it), I tracked it down in Google. I've added it to RecipeZaar to keep for myself and share with others.
The recipe is exactly how I found it, including the name, ingredients, directions, and the notes (see below). The only additional notes I would suggest are: add the chili oil one teaspoon at a time, tasting in between, until you reach your desired level of spiciness; and keep the sauce thoroughly chilled or heated, it will separate at room temperature.
Recipe By: Jo Anne Merrill
Use about 1 tablespoon of sauce per serving of chicken or fish.
*Cilantro is usually sold in small bunches. You will need only about 1/3 of an average bunch or 2-3 of the stems with leaves attached. It may also be sold as coriander or Chinese parsley.