Pronounced: "Tie-nee pone-neee."
A tiny pony can refer to anything small, but generally best describes small men or little animals. Tiny pony can also refer to small anatomical parts of a man. "Tiny pony" can be used as a noun or an adjective, to describe something as very small or very cute/precious.
Did you see how short that guy was? What a tiny pony!
Awww, what a precious tiny pony puppy!
That guy I hooked up with last week was hung like a tiny pony.