I imagine the sentence has a typo, I imagine the person is saying, "May I do the HONORS". With out more context it's impossible to tell you exactly what it means but in general it is said when serving someone something, may I do the honors and pour up the tea?" "May I do the honors and take the tray of appetizers to the guests?" (allowing the host or hostess to continue cooking, perhaps) "May I do the honors and act as bartender? what would you like to drink" It is usually said when there is no clear cut host - in a neutral site, not someone's home or office: or when someone usurps politely the actual host or hostess "duty".