If you run a honda 50cc dirt bike on 110 octane gas what will happen?

Nothing bad.
Using 110 octane gas will be just fine as long as your motor is not worn out.
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Just a little 'Octane' info,
Octane is not what it sounds like, Any gas will eventually become 110 octane if not used, even higher than that too.
Octane is nothing more than the resistance to burn.
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in the effort to conserve money, You should always use the lowest octane fuel your engine will run on without pinging or spark knocking.
Racing engines use High Octane fuels for TWO reasons, First, They usually have higher compression, Second, They put as much fuel into the cylinder as possible.
I hope this helps.