Dough: In a large bowl stir together all ingredients until a ball forms. Transfer to a clean surface and knead for about 5 minutes, or until dough is elastic and cohesive (it will still be lumpy, that's okay!)
Shape: Divide into 2 even pieces, then shape each piece into a log. Each log should be about 1 inch (2.5 cm) thick. Wrap each log tightly in aluminum foil, making sure the foil overlaps so it doesn't open during cooking, then twist the ends to secure.
Steam: Bring a pot of water with a steamer basket to a boil, then place wrapped pepperoni logs into the basket. Cover and let steam for 45 minutes. (Keep an eye on the water level to make sure water doesn't all evaporate.)
Cool: Remove pepperoni logs from the basket and gently unwrap. Transfer to the fridge and allow to cool fully, then use a sharp knife to thinly slice each log into pepperoni pieces! Use as you would traditional pepperoni (on pizza, sandwiches, or crackers!)
Store pepperoni in an airtight container in the fridge for 5 to 7 days.*Solid coconut oil is important for the finished texture. If your coconut oil is not solid, transfer it to the fridge so that it can cool down and become solid.