via Ology:

DevTeam is hard at work on a fan-made 2-D fighting game featuring the characters of Friendship is Magic. Titled My Little Pony: Fighting is Magic, the game will be a free release for PC and will feature 17 characters from the series. The “Mane6” will be available at launch, with the remaining characters arriving via DLC a little later on. There won’t be any crossover characters or pony-ized pop icons in the game–the team intends to stick to the Friendship is Magic story and world.

Read the rest here and check out the video below. 

The graphics look fantastic!