Pony beads are basically a large seed bead. Some say these beads got their name because they were transported by traders on ponies, while other sources dispute this. Pony beads are typically found in sizes 5/0 and 8/0. Also referred to as "E" beads. The 8/0 is the most commonly used size. These beads are used for the same purposes as seed beads but the work is obviously not as fine.
