Cherry-Pistachio Nougat

Preheat oven to 325°F. Lightly coat baking pan with nonstick spray. Line with plastic wrap, leaving a 1" overhang on all sides. Set aside.
Spread out pistachios on a rimmed baking sheet and bake, stirring once, until just beginning to turn light golden brown in spots, about 10 minutes. Let cool. Coarsely chop and set aside.
Combine sugar, honey, and 2 tablespoons water in a small deep heavy saucepan. Stir over medium heat until sugar dissolves. Attach a candy thermometer to the side of pan. Increase heat and boil until thermometer registers 252°F, about 3 minutes.
Meanwhile, beat egg white and salt in a stand mixer fitted with a whisk attachment until soft peaks form.
With mixer running, gradually stream hot syrup into egg whites. Beat until meringue is thick, has tripled in volume, and has cooled slightly, 10-12 minutes. Remove the bowl from the mixer and add cherries and pistachios to meringue; mix nougat with a rubber spatula to distribute evenly.
Place one 8x8" sheet of rice paper (or 8x8" sheet of parchment paper sprayed with nonstick spray) in the prepared pan. Transfer nougat to pan, spreading in an even layer. Top with second sheet of rice paper (or 8x8" sheet of parchment paper sprayed with nonstick spray). Using an offset spatula, press the nougat into an even layer. Let stand at room temperature until set, about 2 hours.
Using overhang from plastic wrap, lift nougat out of pan and transfer to a work surface; discard plastic. Run a large sharp knife under hot tap water; wipe dry. Cut nougat crosswise into 4 strips, then cut each strip crosswise into 10 pieces, occasionally reheating knife under hot water and wiping dry. DO AHEAD: Can be made 1 week ahead. Store airtight at room temperature.