- noun a small breed of horse, often ridden by children, but also living wild in some parts of the world
- adjective of poor quality, disappointing, worthless. In this sense the word is a shortening of the rhyme ‘pony and trap’: crap.
- noun the sum of £25 or, more recently, £25,000, in the jargon of the racetrack, underworld, market traders, etc. In its traditional sense the word was probably adopted to reflect the small size of a £25 bet
- noun a promiscuous female. Equivalent to the male player, it is probably from the euphemism/song lyric ‘ride the pony’.