Eva greets the Queen wearing a short poncho (5)

I believe the answer is:

peron

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'eva greets' is the definition.
I know nothing about this answer so I cannot tell whether it can be defined by this definition.

'queen wearing a short poncho' is the wordplay.
'queen' becomes 'ER' (abbreviation for Elizabeth Regina).
'wearing' is an insertion indicator.
'a short poncho' becomes 'pon' (I can't explain this - if you can you should give a lot more credence to this answer).
'er' placed inside 'pon' is 'PERON'.

'the' is the link.

Can you help me to learn more?

(Other definitions for peron that I've seen before include "Juan, maybe" , "Argentinian president, Evita his wife" , "Surname of Evita of the musical" , "Prone to being an Argentine president" , "Former Argentinian leader" .)

I've seen this clue in the Sydney Morning Herald.

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