You can eat it or not (we LOVE it when we a supplier adds honeycomb in the jar).
If you eat it, just chew it (kinda like gum), until all the goodies are out of it and there's nothing left but the pure wax.
There are many that believe honeycomb has health benefits. It's basically chewed to relieve symptoms of allergy, sore throat, etc. Here's a link with a bit of info: http://www.earthclinic.com/Remedies/honeycomb.html
Now you've got me thinking about it, and I'm gonna go chew a spoonful...YUM (thanks).