Preheat smoker or oven to 250 degrees F. Melt butter in the microwave, then add honey to that bowl and microwave again for 30 seconds or until warmed. Add all other ingredients into that bowl and whisk together.
Pour pretzels into a bowl and pour this mixture on top. Toss together until nicely coated. Pour on to a large baking sheet lined with parchment paper and spread out as much as possible so they overlap the least.
Lay on grate in smoker or on middle shelf in oven and cook for 30 minutes. Move them around halfway thru with a spatula to rotate. Take out, cool, taste and add salt if desired and enjoy.