Paul Hanlon, the talented and insightful lead hairstylist that I met backstage at the Armand Basi fashion show, gave me a great professional tip on how to prevent your ponytail from drooping. He often uses Stretchrite Round Cord Elastic ($1.10), a five-yard piece of elastic that allows you to secure your hair tightly. 
Just snip off the pieces as needed, wrap it around your hair a couple of times and then knot it.
Paul claims that this thin elastic cord works better than a regular hair tie because you can create more tension; the result is that your ponytail stays perky. I can attest that all of the models did indeed have sprightly ponytails throughout the show, despite all of the product in their long hair that could have weighed it down.
Stretchrite products are sold in most crafts or sewing stores, and they're inexpensive. Think you'll give it a try?
Taschen
American Vintage
Luella
Neat! But can you only use it once??? Seems like a waste then...
1I'd probably pick this up - sometimes I like to wear high ponytails and I hate when they droop!
2Definitely gonna try this. It sounds like it works well, and it'd be nice to have 5 yards of hair tie material since I lose my hair ties like crazy.
3seems wasteful... i'll stick to my ouchless brand.
4You can re-use it as many times as you like, just like any hair band.
5I'm dying to try this!! Will be picking up some elastic tomorrow!
6Thanks!
I could use this; and I'll be heading to the craft store sometime this
month.
7I wear these all the time and it really makes your ponytail springy!
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