In a large shaker or pitcher, combine the tequila, Plum Vida, lime juice, honey, and water. Shake or stir until well-mixed and the honey is dissolved.
Pour a thin layer of salt on a plate. Add a few dashes of cayenne pepper. Dip the top of your margarita glasses in a shallow bowl of water, then place on the salt plate and twist until the crystals have adhered to the rim.
Add ice to your glasses and divide the green margarita mixture between them. Garnish with fresh cilantro and lime wedges.
This would also make a great mocktail if you omitted the tequila! Try swapping in one of the other Plum Vida flavors (maybe pineapple carrot mint) for another festive spin.