vulgar slang A penis. Hey, I don't want to see your baloney pony—pull up your pants!
Farlex Dictionary of Idioms. © 2015 Farlex, Inc, all rights reserved.
n. the penis. (Contrived for the sake of the rhyme.) All he could think about was riding the old baloney pony.
McGraw-Hill's Dictionary of American Slang and Colloquial Expressions Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved.