In saucepan heat orange juice and honey together just until honey is blended. Cool to room temperature. Stir in wine and lemon juice. Cover and chill.
Just before serving, slowly add carbonated water, stirring with up and down motion.
Serve in tall glasses over ice. Garnish with orange slices if desired. Makes about 6 cups.
Make it non-alcoholic: Substitute ginger ale or white grape juice for wine.