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Pat the pony 

Give up an idea/scheme as unworkable, esp. due to expense involved. From an incident where pony rides were offered, but were too expensive, so the child involved was told that she could "pat the pony" instead.
"This looks really good!"
"But look at the price!"
"Ah...oh dear. Never mind, I guess we'll pat the pony on that one."
Related Words

The cotton pony 

A way better name for a Tampon than its politically correct term.
"Maryellen: Hows it goin today kitten?"

"Kitten: not too shabby just ridin' the cotton pony!!!!!"

Riding The White Pony

The act of a person being high,after snorting cocaine
DAD:"son are you riding the white pony"
SON:"no"

Park your pony 

To stick your vagina in a mans face
Park your pony cunt.

One-eyed pony

A soft penis that is incapable of becoming a full erection.
Her boyfriend was so drunk and she was so horny that she rode his one-eyed pony.
One-eyed pony by Boozeturd July 16, 2016

Life is not a pony farm 

It derives from the German "Das Leben ist kein Ponyhof" - A pony farm in Germany is the place little girls here like best. It means life isn't always a sheltered place. Like "life isn't always fair - accept it".
Duuuh... can't you stop wailing? Life is not a pony farm, you know? Live with it!