It would be nice, but Spike's missing. I can't stand pictures that add ponies to the group and still fail to include Twilight's most important friend. I've had a bad time of it, so I apologize if this comment sounds unnecessarily snappy.
I absolutely love what you did with the color scheme, though, coloring each hat'n cape to match their eyes. Nicely done.
The placement of the ponies is perfect (because best pony is out in front), and I love how their hats and capes seem to have a dull glow to them, as if they're full of magic. Like the basketball at the end of Space Jam.