Honey can be placed onto platforms and some of the other objects in the game. If a player touches honey it will slow them down and it will also make it harder for them to jump. Honey can be used to attach objects that don't move to objects that can move.
Two moving objects can't be glued together. Sticking two objects that don't move together won't have any effect unless one of them is connected to a moving platform. Honey is the only item in the Honey item group. There's only one version of the Honey.