The Prancing Pony was the inn in Bree where Frodo first met Aragorn in The Lord of the Rings.
The inn was run by Barliman Butterbur and stood in the town of Bree, a settlement on the main road between the Shire and the wider lands of Eriador. Frodo, Sam, Merry, and Pippin stayed there while traveling east after leaving Hobbiton.
Frodo used the name “Underhill” at the inn, but his attempt at secrecy failed when Butterbur delivered a delayed letter from Gandalf. The hobbits also encountered the mysterious Strider, who was later revealed to be Aragorn, heir of Isildur and future king of Gondor.
The Prancing Pony is sometimes confused with The Green Dragon, an inn in Hobbiton associated with the Shire. The Golden Perch and The Ivy Bush are other inns mentioned in Tolkien’s writings. The Bree inn is especially important because it marks the transition from the familiar Shire into the dangerous journey of the wider world.