Hint: A knight moves in the shape of an L, two squares one way, one square the other.
My first is in horse but not in pony.
My second is in coyote but not in jackal.
My third is in shrew and also in vole.
My fourth is in panda but not in bear.
My last is in baboon but not in monkey.
What am I?
The 1st letter can be: H R S E
The 2nd letter can be: O Y T E
The 3rd letter can be: E
The 4th letter can be: P N D
The 5th letter can be: B A