Beat first 2 ingredients at medium speed with an electric mixture until fluffy. Beat in honey and egg.
Combine flour and next 5 ingredients. Gradually add flour mixture to butter mixture, beating until blended.
Shape dough into 2 flat disks. Cover with plastic wrap; chill at least 1 hour or until firm.
Preheat oven to 350°. Line several large baking sheets with parchment paper or nonstick aluminum foil. Roll out dough, 1 section at a time, to 1/4-inch thickness on a floured surface. Cut out gingerbread shapes with cookie cutters. Re-roll trimmed-off dough to make additional cookies. Place 1 inch apart on prepared sheets.
Bake cookies, in batches, 8 to 10 minutes. Cool 1 minute on baking sheets; remove to wire racks to cool completely.
Decorate cookies with Royal Icing or prepared frosting in a tube, and candy and sprinkles, if desired. Let icing harden at least 1 hour.