Pony Penning is an annual event held on Chincoteague Island in Virginia, where wild ponies are rounded up and swim across the Assateague Channel to the island. This tradition dates back to the late 19th century and is part of the larger Chincoteague Pony culture. The event attracts thousands of visitors who come to witness the swim and participate in the festivities. After the swim, the ponies are herded into pens, where they are sorted and auctioned off. The proceeds from the auction help fund the care of the remaining wild ponies on Assateague Island. This event not only celebrates the unique heritage of the ponies but also supports their conservation.