A term which essentially means 'Chillin'', or simply relaxing at home. Taken from the movie Pineapple Express, in the scene where the drug dealer Red bounces a gym ball and explains how he has been spending his day, "tryna get a mothafuckin scholarship, chillin!"
Sean: "Dude, now that you quit your job, what do you do all day?"
Chester: "I've just been tryna get a mothafuckin' scholarship"
'Ponyman' is a term moslty used by black people to describe white people, although white people have been known to use the term to describe each other. This is similar to black people calling each other 'nigga'.