Allow the butter to soften at room temperature.
Place the butter in a mixing bowl.
Add honey, ground cinnamon, vanilla extract, powdered sugar, salt, and a pinch of nutmeg.
Beat or whisk until the mixture is smooth, light, and fluffy.
Transfer the butter to an airtight container or shape it into a log using parchment paper.
Refrigerate for at least 30 minutes before serving.
Spread on warm toast, biscuits, pancakes, waffles, muffins, or rolls.