While waiting for the water to boil for the rice noodles, add the sauce ingredients to a small skillet set over medium-low heat.
Stir continually until the peanut butter is melted and the sauce is heated through, approximately 3-4 minutes. Remove from heat and set aside.
Add the sesame oil to a large nonstick skillet set over medium high heat.
Add the shallot, white part of the green onions, carrots, and red pepper.