One of Kodak's attempts to kill off 35mm film was to introduce a roll-film that was about the same size. 35mm used to be called "miniature" so Kodak called their new film "Bantam" and gave it the number 828 (they called 35mm 135). As the two formats were nearly the same, Kodak liked to make their cameras in both formats. So there's a Pony 828 and a Pony 135. They are virtually the same camera—just the film chamber is different.
This is a bare-bones 35mm camera, to be polite; it really ought to have been a Brownie. There is no rangefinder, just that tiny viewfinder. It's got the same hateful side-clasps that their Holiday uses, except that they added a little button catch to keep the right-side clip in place.
The lens pulls out (give it a quarter-turn to lock/unlock), so it's a wee-bit more compact than it would be with a fixed lens, but not much.
I think I paid $1 for it, which is about what it's worth. The 828 version is worth even less.