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Fake hair, specifically a fake pony tail.
"Cute hair."
"Girl, that's just a phony pony."
by Judy Birgen November 24, 2007
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Description of someone wearing a fake hair weave that looks unusally long for that person.

Long fake hair that looks as if it came off a horse's tail, and used as hair weaves, etc.
That ain't her hair, she's a phony pony!
by Joe Gayle February 21, 2003
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A V6 Mustang made to look like a Mustang GT or a Cobra, a Mustang GT made to look like a Cobra!
I tried to go race that Mustang, but it turns out it's just a phony pony.
by Trans Am Cammie December 26, 2006
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