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1.
The act of performing oral sex on a male penis.
Midway thru happy hour at the local bar one girlfriend asked another where their other girlfriend went and was told " Oh, she took that hunky guy out to the car to make out, she's probably honkin' on bobo by now, lol"
by jpg3 July 24, 2010
 
2.
To smoke a cigarette. Usually said with 'a' in there. It does not mean to jack off, it is to simply smoke a cigarette.
Person 1: Hey wanna go honk on some bobo's with me?
Person 2: Hell yeah, I'm wicked stressed.
by 434 August 13, 2005
 
3.
the phrase "honkin' on bo-bo" comes from the fagotino mythologist, Miguel Rina Aldo and means to stroke the pee pee for pleasure, which Miguel does so very frequently.
Hey Mikey, quit honkin' on bo-bo with JJ during work hours you f-n sick freak!!!
by Junkyard Dog May 18, 2004