Put the sugar, cream, butter, cinnamon stick and honey in a high saucepan and bring to the boil while stirring. Reduce the heat slightly and simmer the mixture for about 20 minutes. Pour in the eggnog and continue to simmer on low heat. To test for the right consistency, place a teaspoon of the caramel mixture in a small bowl of ice-cold water. Remove the mixture from the water. If it can be rolled into a ball with your fingers, the consistency is right. If the mixture is still too soft, continue to simmer for a while and test again.
When the mixture is firm enough, remove the pot from the heat, remove the cinnamon stick and let the caramel cool for about 5 minutes. Then transfer to an ovenproof dish (approx.10 x 20 cm) lined with plastic wrap. Let cool for about 1 hour. Remove the toffee slab with the foil from the mold.
It is best to leave in the refrigerator for a few hours to firm up a bit more, then cut into cubes (approx. 2 x 2 cm) with an oiled knife. Wrap the toffees in cling film for storage, store in a cool and dry place.