Place the wings in a bowl. Add the cornstarch, salt, pepper, and garlic powder. Toss thoroughly to coat all the wings evenly and set aside.
In a blender or deep mixing cup, combine soy sauce, teriyaki sauce, honey, olive oil, peanut butter, garlic, lemon juice, and chili flakes. Blend using an immersion blender or standard blender until smooth and creamy.
Heat a large skillet over medium-high heat with 2 tablespoons of olive oil. Add the wings in batches, turning occasionally, and cook until deeply golden on all sides, about 8 to 10 minutes.
Wipe out the skillet and return to low heat. Pour in the sauce and heat gently, stirring until it begins to simmer. Add the wings back in and coat them thoroughly in the sauce. If the sauce is too thick, add 2 to 3 tablespoons of water to loosen it to the desired consistency.
Serve the peanut butter chicken wings hot, garnished with scallions, crushed peanuts, or sesame seeds if desired.