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calm your ponies 

A very annoying replacement for "hold your horses", "calm yourself", "chill out, dude".

A phrase that is used to one's friend when they are

a) having a panic attack
b) freaking out about something pointless
c) worried / anxious / nervous
d) in a hurry and are constantly annoying you to move faster
"Dude, I think my girlfriend is breaking up with me!"
"Calm your ponies, she's probably just PMSing"

"Wow, can you please like, hurry up? I don't have all day."
"Hey calm your ponies, I'm working on it."
calm your ponies by fafoyojo March 13, 2010
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OMG! Ponies! 

A non sequitur interjection meant to imply ADD (attention deficit disorder). So called because it seems the stereotypical thing a young girl might scream when having her attention distracted by ponies. Common in many online forums.
Wow, I just read in the Washington Post about a secret US plan to attack China. Now this would obviously be a terrible--OMG! Ponies!!!
OMG! Ponies! by SkidMarkyMark January 15, 2007

feast of ponies 

a threesome position where in the dude lies down and one girl mounts him, the other sits on his face and then the girls make out while the dude goes to town.
every dude wants to do a feast of ponies
feast of ponies by dreadedskullet January 6, 2006

Rainbow Ponies!

An exclamation of joy, also something to break awkard silences.
"You just won a million dollars!"
"RAINBOW PONIES!"

also-
"I farted."
"Rainbow Fricking Ponies!"

omg ponies

an involuntary exclamation when confronted by extreme awesomeness or cuteness
"I logged on and and saw the pics of your new l33t rig and thought "omg ponies!"
omg ponies by Staniel Cabio July 13, 2006

playing the ponies

A slang term meaning to bet on horse racing.
"Im gonna head down to OTB. You wanna come?" - Gambling Degenerate

"No thanks. Why do you piss your money away playing the ponies?" -Smart Friend

Jesus Ponies 

Slang used to describe Dinosaurs, there is a Facebook page "Dinosaurs are Jesus Ponies!!"

Also, a blog about Sarah Palin states that she believes in Jesus Ponies

Should be the official phrase to describe Dinosaurs
Friend 1: Dude! look at those awesome Jesus Ponies!

Friend 2: What? Don't you mean Dinosaurs?

Friend 1: Nope, those are definitely Jesus Ponies.
Jesus Ponies by chunk norris December 3, 2010