Honi soit qui mal y pense

Apocryphal origins of the phrase
At a ball, Joan Countess of Salisbury lost one of her garters. Seeing her embarrasment, King Edward III retrieved it, bound it to his own leg and rebuked onlookers by saying, "Honi soit qui mal y pense." Inspired by his act of chivalry, King Edward founded the Order of the Garter in 1348.

Well, yes and no. In 1348, the spelling was honi. But, like most languages, French evolved and today the double N is the norm in the French language. Henriette Walter wrote a book documenting the 'love story' between the French and English languages. It is aptly named "Honni soit qui mal y pense" (note one of two 'n' is italicized)

Source: http://www.rfi.fr/Kiosque/LangueFrancaise/EntrevueAvec/05032001-0.html interview with Henriette Walter