Begin by bringing a large pot of salted water to a vigorous boil. Add the orzo pasta and cook it until it reaches an al dente texture, as per the instructions provided on the packaging. This ensures the pasta retains a firm texture, crucial for salad preparations to prevent sogginess.

Concurrently, prepare the dressing by combining the extra virgin olive oil, red wine vinegar, lemon juice, honey, minced garlic, and Italian seasoning in a small bowl. Whisk these ingredients vigorously until they emulsify into a homogeneous mixture. Alternatively, these components can be combined in a jar and shaken vigorously. Set the dressing aside.

Once the orzo is adequately cooked, drain it and proceed to rinse under cold running water for approximately one minute, or until completely cooled. This step is critical to halt the cooking process immediately and to ensure the pasta maintains its desired texture.

Transfer the cooled orzo into a large salad bowl. Introduce the quartered cherry tomatoes, diced orange and yellow bell peppers, diced cucumber, and optionally, chopped red onion to the bowl. Incorporate the crumbled feta cheese and freshly sliced basil. These ingredients contribute various textures and flavors that are pivotal to the overall balance of the salad.

Drizzle the previously prepared dressing over the salad mixture. Toss all ingredients gently yet thoroughly to ensure even coating and distribution of the dressing. Season with additional salt and pepper according to personal taste preferences.

The salad can be served immediately or may be stored in an airtight container and refrigerated. It is vital to mix the salad gently before serving if it has been refrigerated to redistribute flavors and ensure optimal freshness.