A Southern slang term for vagina (due to its visual resemblance in iron form), usually used in reference to a girlfriend or a big vagina, either literally or referring to a really girly guy.
A lesser-known variation on the rickroll mostly used on b3ta, where one surreptitiously directs someone to the DeAgostini "I Love Horses" website, with the intent of irritating them with its brainworm of a jingle.