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suggestive196320 artist:pencils1417 fluttershy269234 limestone pie6569 maud pie15599 pinkie pie267192 twilight sparkle372179 oc1012991 oc:anon14714 oc:mascara maroon145 alicorn337677 earth pony552827 human270625 pegasus545039 pony1714715 satyr5292 comic:anon's pie adventure501 g42126821 ass83935 bracer718 breasts411185 butt247330 candle7466 clothes680975 comic142462 dialogue102285 dock75566 dress66717 eyes closed149573 falling3761 featureless crotch10566 female1915875 floppy ears78241 headband6134 human male10135 imminent vomiting87 implied penetration260 ipotane36 male591339 mare816628 mind control5168 panties66598 pants25116 plot153241 shirt45225 skirt59848 skirt lift5601 speech bubble45455 tongue out157285 twilight sparkle (alicorn)155471 underhoof73797 underwear82513 upskirt7579 vein16865 white underwear4134

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Fiero

Aim for the bushes
And then cue the concierge popping her head through the open door to see what the noise was in the next page.
Vinyl Fluff
Non-Fungible Trixie -
My Little Pony - 1992 Edition
Wallet After Summer Sale -
Not a Llama - Happy April Fools Day!
Magnificent Metadata Maniac - #1 Assistant

What the Fluff?
@Vinyl Fluff
Ah, so there are genitals, just not visible ones. New question; Why would one female character be wearing panties while all the others are apparently walking about with their genitals on display? Even if their Pony genitals are invisible to the reader but not to the characters, no effort was ever made to cover their privates exclusively, as it has never been adressed as anything other than commonplace. Has Mascara’s identity become blurred by her transformation; and being no longer full-pony in form has it now become necessary to censor her with clothing that maintains some degree of Human modesty?
 
The same reason Anon covered himself. Mascara is now a satyr. Her lower-half is pony but it’s not pure pony. When she transformed she clearly had a vagina down there. You can see her vulva. It’s implied that shortly after that Rarity made her some clothes. And she got her pair of panties then.
Background Pony #E7CE
@Vinyl Fluff  
Ah, so there are genitals, just not visible ones. New question; Why would one female character be wearing panties while all the others are apparently walking about with their genitals on display? Even if their Pony genitals are invisible to the reader but not to the characters, no effort was ever made to cover their privates exclusively, as it has never been adressed as anything other than commonplace. Has Mascara’s identity become blurred by her transformation; and being no longer full-pony in form has it now become necessary to censor her with clothing that maintains some degree of Human modesty?
Vinyl Fluff
Non-Fungible Trixie -
My Little Pony - 1992 Edition
Wallet After Summer Sale -
Not a Llama - Happy April Fools Day!
Magnificent Metadata Maniac - #1 Assistant

What the Fluff?
@OneAmongOthers
I’m saying if her bottom half is still pony that means she wouldn’t have visible genitals, ergo; no need for panties.
 
Don’t confuse cartoon tropes with reality. Being a pony doesn’t mean your genitalia suddenly becomes invisible. And with previous pages that showed the typical “rearview” of nothing, we know there’s still something there by reactions from others: Anon sees a vagina standing over him when he wakes up. Multiple jokes involving private bits being shoved into faces. The implication is there is still something there, but the comic is just not being explicit outside of the bonus pages.