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.

Not to discredit the other guy but as gas sits it loses its octane rating not gains it. also race motors use the higher rated fuels one yes because of the high compression but not because of how much gas they use it is to keep the heat down. higher octane burns cooler. one thing to think about is that 110 has very little upper end lube in it so when you mix your gas put a little extra 2 stroke mix in there and all it will do is haul ass.

Not to discredit the other guy but as gas sits it loses its octane rating not gains it. also race motors use the higher rated fuels one yes because of the high compression but not because of how much gas they use it is to keep the heat down. higher octane burns cooler. one thing to think about is that 110 has very little upper end lube in it so when you mix your gas put a little extra 2 stroke mix in there and all it will do is haul butt.

Not to discredit the 'other guy' but,
Gas GAINS octane as it sits.
It is used in high perf motors because it RESISTS burn, which in turn makes it burn cooler.
Lube has nothing to do with it.