In a small saucepan over medium heat, combine the cream, milk, vanilla and honey. Whisk the mixture while it's warming up and keep on heat until tiny bubbles form around the edge of the pan and the honey has melted. Remove from heat and place in the freezer or fridge to cool.
While the base is cooling, make the compote. Combine the rhubarb, sugar and lemon juice in a pot over medium/low heat. Stir to incorporate and cook about 12 minutes, until rhubarb has broken down and mixture appears to look more like jam. Remove from heat and cool down immediately in freezer.
To make the ice cream, process the vanilla base in an ice cream machine. When the ice cream has formed, yet still soft, add about half of the compote, swirling together with a spoon. Place in the freezer to store.