* Think about the meaning of "two-bit": It usually means something cheap or of low value.
* Consider the context of "pony": Ponies are often associated with children or riding.
Possible Answer:
The answer could be:
* A cheap toy pony. A two-bit item might be a cheap toy pony that someone slapped in frustration or anger.
Let me know if you'd like to try another riddle! 😊