The child rides a pony around a circular track with a radius of 4.5 meters. To calculate the distance traveled after going halfway around the track, one must consider the circumference of the circle, which is approximately 28.26 meters, resulting in a distance of about 14.13 meters. Displacement, defined as the shortest straight-line distance from the starting point to the endpoint, would be the diameter of the circle, measuring 9 meters. The discussion emphasizes understanding the geometry of the circular track and the definitions of distance and displacement. This problem illustrates key concepts in physics related to motion and geometry.