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Description

The Kanji at the bottom left may translate to “(The) Seven(?) Variants”, with the (?) included by the artist. It apparently refers to a traditional Japanese art that involves an actor/actress changing costumes six times in a play (and so wearing seven different ones in total). Luna appears to be ‘playing’ the mane six.
 
Princess Celestia is basically saying ‘you did a good job’.

safe2174411 artist:pepsiso7 artist:ぺぷしそ1 applejack200480 fluttershy258613 pinkie pie255852 princess celestia112703 princess luna117193 rainbow dash279903 rarity217549 twilight sparkle357755 alicorn314135 pony1602542 g42028931 accessory swap2071 alicorn six104 applecorn366 camera5203 concave belly5295 cosplay32934 elements of harmony2896 everyone is an alicorn164 female1802750 fluttercorn416 japanese10135 mane six37610 mare741073 paint2388 pinkiecorn566 pixiv14495 rainbowcorn460 raricorn952 slender6660 thin9825 twilight sparkle (alicorn)149127

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