Heat olive oil in a large 12-inch skillet set over medium-high heat.
Add onions to the heated oil and cook for 2 minutes, or until just softened.
Stir in garlic and cook for 10 seconds.
Add ground meat, season with salt and pepper, and continue to cook, frequently stirring, for 6 to 8 minutes, or until no longer pink. Drain and return skillet back to the burner over medium-high heat.
Add coleslaw to the meat and cook for 4 minutes.
Stir in rice, peanut sauce, water, and soy sauce; bring to a boil, then reduce to a simmer.
Continue to simmer for 5 to 7 minutes, or until heated through and cabbage is wilted and tender; stir occasionally.
Remove from heat and taste for salt; adjust to taste.
Garnish with green onions and cilantro.
Serve with lime wedges.