If you read the Wiki article link above you'll see why the humorous historians Sellar and Yeatman (in '1066 and All That' )said it meant 'Honey, your silk stocking is hanging down' !
My dad was in the King's Troop, Royal Horse Artillery and this was the regimental motto, which he had tattooed on his arm.
The Royal Horse Artillery Cap Badge and Crest is the Royal Cypher encircled by a Garter bearing the Royal Motto
'Honi Soit Qui Maly Pense' meaning 'Woe to he who think ill of it'. It is surmounted by a crown over a scroll bearing
the words 'Royal Horse Artillery', the badge has no backing and the centre is not coloured (Granted in 1948).