Honour for being badly lamed (5)
I believe the answer is:
medal
'honour' is the definition.
(medal is a kind of honour)
'badly lamed' is the wordplay.
'badly' indicates anagramming the letters (letters in the wrong order).
'lamed' is an anagram of 'MEDAL'.
'for being' acts as a link.
(Other definitions for medal that I've seen before include "Religious or commemorative award" , "Lamed by award" , "Prize; sounds like interfere" , "Prize disc for as for Olympic Games win" , "Award for winning" .)