Usually "honk" is the action of applying pressure onto a specific specialized item which then makes a "honking" noise (an old fashioned car horn is the common example for this). The slightly less common other examples of "honk" are for describing the noise a goose makes and for when a woman's breasts are squeezed; but the latter is VERY casual and not considered good manners obviously.

I see.

The action taken to make one of these https://www.amazon.com/Usdepant-Rubber-Squeeze-Bulb-Bicycle/dp/B073WV4Y4R sound.

Refers to squeezing a rubber ball to honk a horn. So, it means "squeeze."