Life is good. Heat oil in wok or deep skillet on medium-high heat until almost smoking. Carefully add peanuts and turn off heat. Stir once and let sit 8-10 minutes, or until peanuts are light golden color. Remove peanuts with slotted spoon and place in food processor fitted with metal blade.
Process peanuts to coarse paste.
Add chilies, ginger and garlic to food processor and process until coarsely chopped. Place mixture in bowl and stir in remaining oil. This recipe makes 3 cups of sauce. Toss 1 cup of this pesto with 1 pound of cooked noodles and serve hot or at room temperature. Store leftover pesto airtight in the refrigerator up to 3 days.