Petal is going a bit far, it's like calling your child 'love' or 'sweetie', 'pumpkin', 'sugar', 'muffin' hahaha etc. girl
I know of a little girl called Honey. At first I thought her mum was calling her Honey in the way that you would call your child sweetheart or darling, then she told me that her name WAS Honey. Hmmmm, not keen on it I'm afraid. Not sure if it translates well to adulthood.