Definition of: pony

(pō′nē) noun plural ·nies
1. A very small horse, especially one of a small breed; specifically, an Indian pony.
2. Anything small of its kind; specifically, a pony engine.
3. U.S. Slang A translation used in the preparation of foreign language lessons; a crib; trot.
4. In British racing slang, the sum of 25 pounds.
5. Colloq. A very small glass, for spirits, beer, etc.
—v.t. & v.i. ·nied, ·ny·ing U.S. Slang
1. To translate (lessons) with the aid of a pony or trot.
2. To pay (money) that is due: with up. [Var. of dial. E (Scottish) powney, prob. <OF poulenet, dim. of poulain a foal, colt <LL pullanus <L pullus a young animal]