Basically, the gameplay of this childish-seeming game is based on the classic movie from the 80s. To play, you try to use the wake of your pony to cut off the path of your opponent, blocking the other pony and winning the competition.
Pink Pony has achieved something pretty special in terms of its graphics, especially when you consider that it only takes up a mere 15 megabytes of space on your hard drive. The pony is well-modeled and the setting is very pretty, although the special effects (like when you cut off the other pony) could be cooler.
Pink Pony is a little strange, mostly because its graphics make it look like it's intended for children. Its gameplay and references to Tron, however, are good reasons for veteran players to check it out.