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Slang term for a white man, originating, according to a comment in the book "Beneath the underdog" by Charles Mingus, (not verbatim)
"A white man looking for a prostitute in early 20th Century Harlem who, because he didn't want to get out of his car to call a girl, he just honked to get the girls attention"

I think this is the most plausible definition.
"You hear that honky over there? He wants you, baby"
Honky by Mingusfan April 15, 2006
A inflammatory insult against European Descended Folks
Honky by J. Michael Reiter June 6, 2003
Originally "hunkie," a variation on "bohunk," a derogatory term for Eastern-European factory hands and mostly used in midwestern cities. Became corrupted to "honky"(factory hand) in the late 20s-early 30s(see Mezz Mezzrow's REALLY THE BLUES). By the late fifties came to mean blue collar whites and by the sixties white people in general.
Honkies are all assholes.
honky by Lord Invader October 18, 2003
Noun. Slang word used to refer to those of Anglo-Saxon ancestry.
You dirty honky.
The honkies are all gathered at Walmart.
Honky by Grumpy_Eel February 17, 2005
Slang for a white person. The word 'honky' is considered offensive.
'Honky' is just as vulgar as the n-word and should not be used by anyone.
Honky by Mr. X-106 October 2, 2003
Andrew: Quit being so black, RJ.
RJ: Shut up, Honky!
honky by Andrew September 1, 2004