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This 1961 family film, based on the novel by Marguerite Henry, inspired a generation of children to name their pet dogs, cats, turtles, and so on after the lovely colt of the title. Set on Virginia's coastal island of Chincoteague, the film begins on "Pony-Penning Day," an annual celebration that involves rounding up for auction wild ponies on neighboring islands. Two young children, a brother and sister (David Ladd, son of Alan, and Pam Smith), capture an elusive mare nicknamed Phantom and hope to take ownership of her colt, Misty. A stranger has other plans, however, setting his mind on buying both animals, and the disappointed kids turn...