Grow ponytail palm in bright light for best growth, but it tolerates medium- and low-light spots, as well. Because it stores water in its thick trunk, ponytail palm can survive extended periods with no water -- making it the perfect houseplant if you tend to travel a lot or are a forgetful waterer. That said, this houseplant tree will grow best if watered regularly -- when the top inch or so of the potting mix starts to dry. A small ponytail palm looks fabulous on tabletops. It has a spare appearance that makes it fantastic for contemporary and modern interior designs, but ponytail palm also looks great in more casual settings, such as country and eclectic looks. Basically, you can grow this houseplant anywhere.