Need help interpreting this brand

[jasonblack]

There's a driveway in Wyoming that's in the shape of the following brand. I'm sure it's a joke of some sort but I don't quite understand it and its driving me nuts. Flying Horse P or something?

Any help is greatly appreciated!

 

[Faster horses]

That's a brand? I pity the animal it goes on and the person who has to apply it.