I use the packaged bacon. If using packaged bacon hopefully you have saved bacon grease in your refrigerator. Or cook bacon drain and reserve 1 tablespoon bacon grease
Whisk mayo, reserved bacon grease, honey, sugar, salt and black pepper together in bowl until dressing is smooth.
Mix bacon, peas, celery, cheddar cheese, and onion together in a bowl. Drizzle dressing over salad and toss to coat.
Refrigerate until chilled, about 30 minutes.