In a medium saucepan over medium-high heat, bring the vinegar, water, peppercorns, cloves, bay leaves, and honey to a boil.

Reduce the heat to low, and simmer for about 5 minutes.

Remove from the heat.

Place the sliced beets in a wide-mouthed jar or other container, and carefully pour the liquid over them until they’re covered by about an inch.

Let them come to room temperature, and then refrigerate for at least 24 hours before serving.