Objects that are less dense than their environment will float. Objects that are more dense than their environment will sink.
[Water] Water has a density of 1000 kg/m^3, while the ball has a density of 1100 kg/m^3. Since the ball is more dense, it will sink.
[Honey] Honey has a density of 1400 kg/m^3, while the ball has a density of 1100 kg/m^3. Since the ball is less dense, it will float.