I see your fuzzy dogs smiling at us there. Don't they at least get there names annouced since they posed so well for you:) A wider planter looks needed - plastic may be more durable, but don't over water if using plastic because its a dessert plant. The plant is also pushing outward and out-growing the planter - its rot and a giant heavy plant combonation. You could take 2 feet off the top.

ycloh1's photo is of Yucca elephantipes. Many species of plant form large succulent-like bases but may be completely unrelated. Those out of focus little blobs in the photo above here is a shot of a cycad's collaroid roots (totally normal, and a good sign the plant has been fixing nitrogen and trying to grow well).

The pale green color indicates that its not receiving enough light. For now, I would give it very bright, indirect sunlight until the new growth has darkened up some. Also, if you're planning on growing it indoors, then refrain from getting the leaves wet. The leaves can tolerate being wet just fine, but the central growth points could rot out if water gets in them. Keeping them dry alleviates this and prevents it from happening. Judging from your photos, it appears as though the caudex has been buried just underneath the soil, which isn't good. All ponytail palms have a swollen base which stores the water it needs, and I'm not seeing one on your plant. If this is the case, then I would repot the plant, bringing the whole plant higher up in the pot. It only needs to be planted just deep enough to cover the roots. They don't mind having their roots disturbed, so no need to worry about that. If you have some fast-draining soil, I would most certainly add more to it, raising the soil line up higher in the pot, too. This will give your ponytail palm ample room to grow many more roots. As for it previously being cut, this is a common practice for commercial nurseries, so that multiple new growths will emerge from the plant. This gives them a much fuller appearance than they would normally have with only one.

I noticed that the trunk is also soft when I press it. Same for the round part in the planter. Sounds like another case of root rot gone systemic. Not much to be done other than allowing the plant to go completely dry before you water it again. I suggest using a "tell" to "tell" you when it's time to water (see below). If you're the proactive type, you could lift the plant from the pot, remove all soil from the roots, inspect roots and caudex carefully for symptoms of rot, and, if appropriate (you think the plant is still viable), repot into an appropriate medium (one that is very well-aerated and drains exceptionally well. What I use: Using a 'tell' Over-watering saps vitality and is one of the most common plant assassins, so learning to avoid it is worth the small effort. Plants make and store their own energy source – photosynthate - (sugar/glucose). Functioning roots need energy to drive their metabolic processes, and in order to get it, they use oxygen to burn (oxidize) their food. From this, we can see that terrestrial plants need plenty of air (oxygen) in the soil to drive root function. Many off-the-shelf soils hold too much water and not enough air to support the kind of root health most growers would like to see; and, a healthy root system is a prerequisite to a healthy plant. Watering in small sips leads to avoid over-watering leads to a residual build-up of dissolved solids (salts) in the soil from tapwater and fertilizer solutions, which limits a plant's ability to absorb water – so watering in sips simply moves us to the other horn of a dilemma. It creates another problem that requires resolution. Better, would be to simply adopt a soil that drains well enough to allow watering to beyond the saturation point, so we're flushing the soil of accumulating dissolved solids whenever we water; this, w/o the plant being forced to pay a tax in the form of reduced vitality, due to prolong periods of soil saturation. Sometimes, though, that's not a course we can immediately steer, which makes controlling how often we water a very important factor. In many cases, we can judge whether or not a planting needs watering by hefting the pot. This is especially true if the pot is made from light material, like plastic, but doesn't work (as) well when the pot is made from heavier material, like clay, or when the size/weight of the pot precludes grabbing it with one hand to judge its weight and gauge the need for water. Fingers stuck an inch or two into the soil work ok for shallow pots, but not for deep pots. Deep pots might have 3 or more inches of soil that feels totally dry, while the lower several inches of the soil is 100% saturated. Obviously, the lack of oxygen in the root zone situation can wreak havoc with root health and cause the loss of a very notable measure of your plant's potential. Inexpensive watering meters don't even measure moisture levels, they measure electrical conductivity. Clean the tip and insert it into a cup of distilled water and witness the fact it reads 'DRY'. One of the most reliable methods of checking a planting's need for water is using a 'tell'. You can use a bamboo skewer in a pinch, but a wooden dowel rod of about 5/16” (75-85mm) would work better. They usually come 48” (120cm) long and can usually be cut in half and serve as a pair. Sharpen all 4 ends in a pencil sharpener and slightly blunt the tip so it's about the diameter of the head on a straight pin. Push the wooden tell deep into the soil. Don't worry, it won't harm the root system. If the plant is quite root-bound, you might need to try several places until you find one where you can push it all the way to the pot's bottom. Leave it a few seconds, then withdraw it and inspect the tip for moisture. For most plantings, withhold water until the tell comes out dry or nearly so. If you see signs of wilting, adjust the interval between waterings so drought stress isn't a recurring issue. Al