- Immerse 8 long wooden skewers in water and soak for 10 minutes. Drain and pat dry. Season chicken with salt and pepper to taste.
- Thread onto skewers along with bell pepper chunks and sliced squash. Place the peanut butter, soy sauce, water, lime juice, honey, red pepper flakes, and ground ginger in a medium bowl. Whisk until smooth, adding more water to thin the sauce as needed. Reserve half of the sauce for dipping.
- Brush chicken and veggies with some of the remaining sauce, then spray lightly with cooking spray. Coat gas grill grates with cooking spray (or grill pan) and preheat on medium-high heat. Place skewers on grill, cover, and cook 4 to 5 minutes.
- Turn and brush with remaining sauce, then cook 4 to 5 more minutes until chicken is no longer pink. Garnish with freshly chopped peanuts and cilantro. Serve with dipping sauce on the side.