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'.
The term originates from the alphabet system on mobile phones, where the term 'snowman' is typed using the same keys as 'ponyman'. Confusingly, 'Ponyman' does not refer to a cocaine dealer as the term 'Snowman' traditionally does, but refers to an unwelcome caucasian as seen in the movie 'Fast and the Furious'.
The term pony has feminine connotations and thus 'ponyman' is a more derogatory term than snowman.