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Definitions by Elwood P. Dowd

pink pony 

noun. Slang for the penis

verb, transitive. To have intercourse with, to fuck, etc.
n. "Ridin' the pink pony" or "That dude definitely gobbles the pink pony."

v.t. "I'm definitely gonna pink pony that bitch."
pink pony by Elwood P. Dowd January 2, 2007

pink trombone 

noun. Slang for penis, dick, cock, etc., specifically when being fellated.
"Man, he ain't interested in your sister -- he only plays the pink trombone."
pink trombone by Elwood P. Dowd January 2, 2007