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The combination of the words 'Pony' and 'Boat'
A 'Ponyboat' is an object which is amateur in it's design and/or function. It is lackluster in every single aspect, and is garbage to use and complete bullshit. Ponyboating can be also used to describe the shortcomings or ridiculousness of a person, place, concept, idea, or situation. It is a versatile word that can replace other adjectives for use in describing something.

You would never want to Ponyboat someone you like.
"That computer is terrible...I don't want to every be stuck on that Ponyboat again"

"No, Chief I was riding that Ponyboat for three years, and I aint ever going back."

"Welp I missed the Gravy Train....Looks like I'm going to have to take the Ponyboat."

"Dude you're such a messy roomate, stop Ponyboating me and clean up the fucking kitchen."

"My car has been giving me a lot of trouble lately. Duh that's what you get for buying a Ponyboat."

"I should've been working, but instead I was just Ponyboating around."
by MidnightRider November 14, 2012
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