Heat olive oil in skillet over medium heat. Add in diced pancetta and sliced shallots and cook until pancetta is crispy and shallots are browned; about 5 minutes.
Pour in peas (frozen or thawed work). Continue cooking until peas are warmed through. Season with salt and pepper.
Video
Notes
If you can't find pancetta, you can use diced prosciutto or bacon. Also, you can substitute thinly sliced onion for the shallot.