Answer:
The cutting of Ponyboy's and Johnny's hair is a very symbolic gesture. On the surface, their new short haircuts offer them a disguise, but the haircuts also exemplify the fact that they are cutting their ties with the past. They are no longer greasers; unfortunately, they are now fugitives. By losing their hair, the outward trademark of their identity, they change perspectives — not only from their own point of view, but the perspectives of others around them. Dally is the first to see the transformation: "He looks different with his hair like that."
Pony's hair was his pride and joy; now, not only does he lose it, but he also changes its color. His hair color changes from a reddish hue — a warm, comfortable color — to white. White contains all the colors of the spectrum and is a crossover color that cannot be affiliated with anyone. As in earlier chapters, the color white brands him as an outsider — this time to his own identity as a greaser.
Step-by-step explanation:
When Ponyboy and Johnny hide out together after their fight with the Socs, Ponyboy recites a Robert Frost poem, “Nothing Gold Can Stay.” They watch a sunrise and remark on its beauty. Ponyboy is wistful, saying that he wished he had paint to capture it. Their discussion prompts Ponyboy to recite the poem to Johnny. This poem takes on special meaning for them. When Johnny is dying, he tells Ponyboy to “stay gold."