'Ponyman' is a term moslty used by black people to describe white people, although white people have been known to use the term to describe each other. This is similar to black people calling each other 'nigga
The term originates from the alphabet system on mobile phones, where the term 'snowman' is typed using the same keys as 'ponyman'. Confusingly, 'Ponyman' does not refer to a cocaine dealer as the term 'Snowman
' traditionally does, but refers to an unwelcome caucasian as seen in the movie 'Fast and the Furious
The term pony has feminine connotations and thus 'ponyman' is a more derogatory term than snowman.