pondwaters Share definition Flag The same as highwaters.Slang for short pants, ie, the person's socks are showing. Look at him, he has got the pondwaters on... what a faggot. pondwaters by blakejd5692 January 5, 2010 0 0 Get merch Get the pondwaters mug. Buy Now — $32.95 See more merch