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pony-friend

A someone whose your friend and "rides the pony" aka actively engages in sex with you. With mutual consent and you highly respect each other. Between not dating and friends with benefits.
No we are not dating, we are pony-friends.
pony-friend by Pictureman February 13, 2015
Related Words

pony pecker in a jockstrap 

give me a pony pecker in a jockstrap with mustard,hold the relish

Pony Leg 

An Australian slang word for a small measurement of cannabis.

A measurement of cannabis = small stick of weed that resembles a baby horses leg (poe/nee/leh/guh).
Do you think I'm Japanese or a horse breeder? No? Then why are you selling me a pony leg.

Or...

You got anything to smoke? Nah man all I have is a pony's leg.
Pony Leg by Freshplateofbeans September 15, 2021

Pony Punching Bag 

In doggy-style, make sure your girl has her hair up. Then, repeatedly punch the back of her head while holding her ponytail. Like a punching bag.
“Yeah last night I got a little too rough with my girl doing Pony Punching Bag, had to call an ambulance…”
Pony Punching Bag by PPBEnjoyer December 15, 2021

pony powder 

A nickname for the dissociative drug ketamine. Other alliterative nicknames are donkey dust and Shetland shards, as it is a horse tranquilliser
I was on the pony powder all night ended up k holing in the middle of the tube station
pony powder by ket@minepixie August 5, 2022

pony chat 

'Pony chat' is talk or general discussion that doesn't make the grade in a social situation
"Ah man, enough with the pony chat...! Switch it up or I'm never inviting you to another of my parties."
pony chat by The real Mr. P November 19, 2013