Combine all ingredients in a small bowl. If you plan to use this as a dressing, add ¼ cup water. If you plan to use it as a dip, add 1 tablespoon water. Either way, whisk together until smooth
To use as dressing, transfer to a tightly lidded cruet or bottle. If using as a dip, leave in the bowl to serve. Shake or stir well before each use.