Aim low, they're riding shetlands

Does anyone know the origin and history behind the phrase "aim low, they're riding shetlands"? I'm very curious! Thanks

I'm guessing that you know that Shetland ponies are small - if not, that's probably all you need to know.

Other than that, I've never heard this before and it appears just to be a little joke. If there's any deep meaning I can't see it.