Prisoner's Honey

The preferred drug of the Neath, discovered on the Surface but now far more popular below ground. It's made from the flowers of a certain kind of rhododendron called "exile's rose;" it induces a deep sleep filled with lucid dreams of that mystical alternate world called Parabola. If one wakes up before one's mind has returned from Parabola, that will make them honey-mazed - effectively drunk.

Xenophon, an ancient Greek writer, wrote of prisoner's honey (he called it mad honey), but the effects on his Surface soldiers resemble honey-mazing more than honey-dreams.

Gaoler's Honey

Colloquially called red honey, because, well, look at the picture. This is a more sinister breed. It's made from a flower that is a cross between the exile's rose and a flower from Hell. It seems the hybrid has existed since the days of the Fourth City.

Both types of honey feature in Fallen London and Sunless Sea.

This honey is hellish for sure; it has been suggested that... (FATE-LOCKED CONTENT SPOILER)
...A "contaminated" batch made the Empress's children into monsters. (See The Shuttered Palace and the Empress's Court for more info.)

Those seeking their Nemesis...
...will prepare and take a drop of this honey, and be transported to a mysterious dream-location called the Chambers of the Heart. It seems visitors to this place may root through others' memories. Which will be painful to the victim. Interesting.

About Gaoler's Honey (Info from Sunless Sea players needed!)

In Sunless Sea, you can find that it is produced on the Isle of Cats, by the Pirate King, Leopold, who himself is an addict.  The people who's memories are used in it are kept locked in cages, and are almost vegetative due to the amount of pain they are going through.  Several important members of the game are implied to be addicted as well.  Leopold has two important followers: Zaira, the lady of the cages, who leads the Melliferous Sisters in gathering the honey.  And Isery, the king's claw.  Since the Sunless Sea wiki holds almost no lore, I will need help from players who have visited the Isle of Cats and asked about the nature of red honey. ~Birdadmirer