The verse comparing "little dark ponies" and "big white horses" is often interpreted as a playful metaphor for the different types of men or suitors in the village. The "dark ponies" might represent the local, energetic village youth, while the "white horses" could represent outsiders or wealthier individuals. The line suggests that despite their stature, they are all captivated ("stop in their tracks") by the beauty and energy of the dancing women.
(Excerpts from a common folk verse)