this is not the street name for AK47. it is the street name for an AR15. the ak 47 fires 762x39mm, the soviet m43 round. there were rare versions of the ak47 that fire the 223 round, but these were rare and not numerous enough to consider. the ar15 fires the 5.56 nato, which is the same as 223 remington, 223 for short.
a foster style shotgun slug. called a pumpkin ball because it is roughly the same colour as a pumpkin (copper colour) and it is about as tall as it is wide and has ridges running down the sides of it that make it look like a pumpkin. ball is another word for a full metal jacket lead core bullet, like a shotgun slug.
"i haven't seen pumpkin balls like this since the shootout at the barksdale stash house" bunk, HBO how the wire