The Ponytail Palm, also known as a Bottle Palm Tree or Elephant Foot Tree, is neither a palm nor a tree. This plant is a type of succulent from the Agave family, native to dry regions of eastern Mexico. The Ponytail Palm gets its name from the long curling leaves that grow similar in appearance to a ponytail from the top of the trunk. The Ponytail Palm stump stores water at its base and tapers up into a thin stem. One or more rosettes of long, green leaves develop from the top of the dome as the plant matures. Foliage can reach three feet in length indoors and double outdoors.