PONY (from the Lowland Scots powney, probably from O. Fr. pouleriet, diminutive of poulain, a colt or foal; Late Lat. pullanus, Lat. pullus, a young animal), a horse of a small breed, sometimes confined to such as do not exceed 13 hands in height, but generally applied to any horse under 14 hands (see HORSE). The word is of frequent use as a slang term e.g. for a sum of 25; for a liquor measure or glass containing less than a half-pint; and in America for a literal translation of a foreign or classical author, a " crib."
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)