PONIE is an acronym for Perl On New Internal Engine. The PONIE Project existed from 2003 until 2006 and was to be a bridge between Perl 5 and Perl 6. It was an effort to rewrite the Perl 5 interpreter to run on Parrot, the Perl 6 virtual machine. The goal was to ensure the future of the millions of lines of Perl 5 code at thousands of companies around the world.
The PONIE project ended in 2006 and is no longer being actively developed. Some of the improvements made to the Perl 5 interpreter as part of PONIE were folded into that project.