Combine Balsamic Vinegar and Honey in a small pan. Place over medium-low heat and let it gently warm to a simmer until the mixtures thickens just above the consistency of water. Depending on the surface area of your pan this will take about 5-10 minutes. The longer it cooks, the more intense the flavor will be.
Pour balsamic mixture into a heat-proof bowl and rapidly whisk while drizzling in Olive Oil. Season well with Salt and Pepper. A little garlic and onion powder make for nice seasonings too if you wish.