As someone who’s made pony skins for TF2, I can safely assure you it’s much better to make weapon skins pony-themed than player.
 
Still, there was an honest attempt here, at least

@Rollo  
Yes, recoloring characters’ textures is hard, no doubt. But the end result is, as I said, garish and, as StrangeGirl said, too bright. It’s not aesthetically pleasing, in our opinions. It also messes with the game’s built in color-coding and art style. If you actually played with this mod and the other “villains” one, it would be much more difficult, though still passably possible, to identify what team and class someone is in the heat of battle. You certainly couldn’t do it as quickly.

What’s with all the down votes does anyone know creating reskins is REALLY hard

Colors are much too bright.

Garish. I’d rather play with cartoony pony models made by Kassgrein and BigDub.  
 
 
 
 
 

 
More here: http://mlptf2mods.com/mods/character_models/