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In recent years, the ponytail palm tree has become a popular houseplant, and it is easy to see why. Its sleek bulb-like trunk and lush, long curly leaves make it visually stunning, and the fact that a ponytail palm is forgiving and easy in its care makes this an ideal houseplant for many people. Oddly enough, a ponytail palm tree is neither a palm nor a tree. In fact, it is a member of the Agave family and is actually a succulent. Other common names for this plant include the bottle palm tree or the elephant foot tree. In the past, it has been classified as either Nolina recurvata or Beaucarnea recurvata, but the latter is now the correct classification of this plant.