Otto's making honey (5)
I believe the answer is:
toots
'honey' is the definition.
(I've seen this in another clue)
'otto's making' is the wordplay.
'making' is an anagram indicator.
'ottos' is an anagram of 'TOOTS'.
(Other definitions for toots that I've seen before include "Honks horn" , "ducks" , "Florence Dombey's admirer" , "Beeps" , "gentle Dickensian" .)