From Diablo Wiki
Honey Pot is a term for something, often set out as bait, to draw in victims. The term is used in war, for a wounded enemy soldier left out to draw his comrades into sniper range.
- Honey pot examples from Wikipedia.
In Diablo III, it generally refers to a decoy, pet, or other object placed out where monsters will go aggro on it, allowing the other characters to attack them from afar.
- See other Reference terms for Diablo III.