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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.