Ponyboy values family and friendship. He is actually a very sensitive young man. His family is quite unorthodox, since his parents are dead. So his brothers are important to him. Likewise, Ponyboy’s friends and gang, the Greasers, are also important to him. The Greasers are more of a socioeconomic distinction than anything else.
Unlike other Greasers, Ponyboy values dreams. He is interested in books and movies. He likes to imagine another life. Being in a gang is not the most important thing to Ponyboy. It is about survival as much as identity. However, it is an irrevocable part of his identity. When he meets Cherry, he begins to wonder how important class distinction really is.
He values Johnny and the other members of the gang.