The 35 year old fell out with the two others at a house in Whippendell Road, Watford.
He left but later that evening was waiting for the two men when they came out of another house in Market Square.
Prosecutor Nigel Ogborne told St Albans crown court Tuesday 30th June that the defendant shouted: “I will stab you. I will shoot you. I have got gangsters around me.”
The two men tackled him and he went to the ground. In his waistband was the 12 inch hunting knife.
The police were called and he was arrested. He told the officers what he did was stupid.
The single father pleaded guilty to possessing a knife on 4 May this year. He had a caution for battery and possession of cannabis from October 2010.
Andrew Kerry, defending, said the knife was never brandished and that his client was remorseful.
He said the man denied he made any threats and said he had armed himself for his own protection.
Mr Kerry said he had two jobs, working long hours, to support his child.
Judge Stephen Warner told: “If weapons like this are used they can cause devastating injuries or worse.” But the judge said he did not produce the knife or use it.
He passed an 8 month jail sentence suspended for 18 months and ordered him to carry out 60 hours’ unpaid work. He must attend 20 days on an alcohol programme, pay £400 fine and ordered him to pay £250 costs,