Top Definition
The term describes something that is exceptional, or awesome. It is derived from "pwn" which is ultimate nerd internet ownage. To own ponies is to do something amazing or be amazing.

The reverse of this, sucking, is to "blow ponies".
"She let me get to third base on the first date! Third base totally owns ponies!"
by Sexjelly October 12, 2007
6 Words related to owns ponies

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