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1.
A term coined by modern DIY punk rockers describing either:

a: A "punk" that forgot 1977 was over 30 years ago and still thinks bondage pants, giant glue-smeared mohawks, and raising a middle finger for no apparent reason is still cool. These "punks" also exclusively listen to bands such as the Germs, The Ramones, The Casualties, Rancid, Misfits etc.

b: A "punk" who, although looks 100% less ridiculous than their mohawk flaunting, middle finger raising cousins, isn't even punk at all. These kids can sometimes blend into a real punk crowd but in reality have no understanding of the true meaning and ideals of DIY punk rock. These "punks" generally listen to bands such as New Found Glory, A Day To Remember, The Wonder Years, Blink-182 etc.

The term can also be used in jest to describe something that was in fact very punk.
Example 1:

Punk 1: "That guy with the liberty spikes has a Misfits back patch."

Punk 2: "Lol, what a ponx!"

Example 2:

Ponx: "Dude, have you heard New Found Glory's new record? I absolutely love punk rock!"

Punk: "Fuck no! those guys are a bunch of Ponx! Go listen to some Trash Talk or Punch."

Example 3:

Punk 1: "That Loma Prieta show last night was amazing."

Punk 2: "You know it dawg! Up the Ponx! lololol"
by thealmightypat October 27, 2011
 
2.
A cool new way of saying punk.
Dude, that chick is so ponx.
by *~christa~* January 18, 2007