Wrap each potato wedge with 1 slice bacon. Secure each end of the bacon slice with a toothpick.

Place potato wedges in a large saucepan. Pour in canola oil to to cover halfway. Cook over medium heat, turning occasionally, until potato wedges are tender, about 20 minutes. Increase heat to high; cook until bacon is crisp, 3 to 5 minutes more. Drain on a plate lined with paper towels.

Mix butter, honey, green onion, parsley, salt, and pepper together in a small bowl.

Remove toothpicks from potato wedges and transfer to a platter. Drizzle melted butter mixture on top.