In a small saucepan, stir together the honey and chiles. Set over medium heat until it comes to a light boil.

Reduce the heat to low and let it gently simmer for at least 45 minutes and up to 1 hour, stirring occasionally to prevent burning.

Remove from heat, and strain into a jar, discarding the leftover chiles. Stir the bourbon into the honey. Let it cool before sealing. Store it in the fridge up to 3 months.