A ponytail palm tree is neither a palm or a tree. It is actually a member of the Agave family and is actually a succulent! Other common names for this plant include the bottle palm tree or the elephant foot tree. This plant includes a bulbous trunk, which is used to store water, and its long, hair-like leaves that grow from the top of the trunk like a ponytail.
Let soil dry out completely between waterings. Water every 2-3 weeks.