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Also called a snot rocket, the act of covering one nostril and blowing forcefully on the other to expel flotsam and jetsam from one's sinus cavity, usally in a public place. Named for a character in John Steinbeck's "The Red Pony" with a predilection for said disgusting affectation.
I didn't have any kleenex and didn't see anyone down the street, so I launched a red pony on the sidewalk before hopping on the bus.
red pony by Ben Frey June 11, 2006

Riding The Red Pony 

Slang for a woman on her period.
"I'm riding the red pony"
"Are you riding the red pony this week?"
"Do you have a tampon; I'm riding the red pony."