In a mixing bowl, combine the goat cheese, tarragon, honey, ¼ teaspoon salt, and black pepper. Taste and adjust seasoning if necessary.
Roll the goat cheese mixture into 12-14 balls, about 1 ounce each. Set aside.
In a small bowl, beat the egg with a splash of water.
On a plate, mix the panko breadcrumbs with ½ teaspoon salt and ¼ teaspoon pepper. On a separate plate, place the flour, seasoned with salt and pepper.
Create a dipping station: first roll each goat cheese ball in flour, then dip in the egg wash, and finally coat with breadcrumbs. Shake off any excess breadcrumbs and repeat with the remaining balls.
If frying immediately, place the coated cheese balls in the freezer for 20 minutes. If frying later, refrigerate for at least 1 hour or overnight.
When ready to fry, heat 3 inches of canola oil in a Dutch oven to 350°F (175°C). Fry the goat cheese balls in batches of 4-5 until they are golden and crispy, about 2-3 minutes.
Drain on paper towels. Drizzle with extra honey and garnish with red pepper flakes, chives, or crushed pistachios if desired.