I don't own the Jolly ponytail, but I have played with dynamic hair a lot. Reducing air damping and spring damping will make the hair move more. Reducing gravity might help, too. It will make the hair float more. You can even make it float up, as if underwater. Increasing the gravity will make the hair "heavier." You can make it look like it's wet if you turn the gravity up enough.

Experiment and see! (You might want to temporarily reduce the number of strands in the hair, so the sim runs faster. You can raise once you find the settings you like.)