Preheat the oven to 375 degrees F and line a baking sheet with parchment paper. Set aside.
Dry lil smokies with a paper towel to get rid of excess liquid.
Cut each piece of bacon into three pieces to give you 36 sections for wrapping.
Wrap each lil smokie with a piece of bacon and secure with a toothpick once wrapped. Place wrapped smokies on the prepared baking sheet.
Whisk together hot honey, brown sugar, water, and cayenne pepper - if using - until well combined. Brush it on top of the lil smokies with a basting brush.
Bake for 15 minutes.
Remove from oven and flip lil smokies. Brush the other side with any remaining glaze.
Bake for another 10-15 minutes depending on how crispy you want your bacon. Start checking them at about 8 minutes.
Remove from the oven and let the smokies cool slightly before removing the toothpicks, if removing, or serve warm with toothpicks for serving.
Place the bacon wrapped smokies on the baking sheet with the toothpicks pointing to the sides to allow for easy flipping. You can grab the toothpicks to flip them over quickly, just be careful that you don’t break them.Store leftover bacon wrapped smokies in an airtight container in the fridge for up to five days.Reheat smokies in the oven at 350 degrees for a few minutes or until they’re warmed through. Don’t microwave these or they’ll lose their crisp bite.Use regular honey with 1/4 tsp of cayenne pepper in place of the hot honey if you can’t find hot honey.