Ho fucker. Derived from two parts: Ho and Donkey. In the radio edit of the song 'Fire Water Burn' by the Bloodhound Gang 'fucker' is changed to 'Eeyore'. Eeyore is a donkey. Therefore donkey means fucker.
Honkey is a racial epithet, used for white people. It was made popular by a man named George Jefferson in the 1970's. You see he and his wife Weasy had a dry cleaning business, so they moved up on to the east side, to an apartment in the sky. They finally got a piece of the pie.