This is probably the most insensitive remark made by any of the greasers toward their pet, Johnny Cade, in The Outsiders. Ponyboy is upset when he makes the statement, arguing with Two-Bit and Johnny about how Darry feels about him. When both Two-Bit and Johnny defend Darry, Pony angrily lashes out at Johnny.
Johnny's eyes went round and he winced as though I'd belted him.
Two-Bit responded by slapping "me a good one across the side of the head, and hard." He told Pony that he'd "slap the tar out of you" if he hadn't been Soda's younger brother. But Johnny acknowledged that what Pony had said about his own parents was "the truth." Two-Bit gave Johnny a playful rub on the head.
He probably feel depressed...