Hon is a derogatory term for a trans woman, especially one that doesn't pass or is believed to not put effort into passing. It is most commonly used by radical transmedicalists, but transphobic cis people have been known to use it as well.
History
The term originated on 4chan's /lgbt/ board on an unknown date. It comes from the stereotype that transgender women use the word "hon" abundantly. It is especially associated with the phrase "you look great, hon."[1] A flag for those that reclaim the term was created by Tumblr user tttt-coiner on May 10th, 2024.[2]