A non sequitur interjection meant to imply ADD (attention deficit disorder). So called because it seems the stereotypical thing a young girl might scream when having her attention distracted by ponies. Common in many online forums.
Wow, I just read in the Washington Post about a secret US plan to attack China. Now this would obviously be a terrible--OMG! Ponies!!!
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an involuntary exclamation when confronted by extreme awesomeness or cuteness
"I logged on and and saw the pics of your new l33t rig and thought "omg ponies!"
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