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I did a version with blood instead of cake frosting, but I wasn’t in a dark enough mood to post grimdark version. ;(
This has sorta been done before, but it’s something I was thinking about a long time ago –
The year is 1985 A.C. In an alternate Equestria where masked super-ponies are a reality, President Filthy Rich Neighin has been elected to a fifth term, and the United Celestian States of Equestria are on the verge of a magical holocaust with the Union of Lunar Republics. The citizens of Manehattan go about their lives in a shattered society, under the constant shadow of Mutually Assured Harmony. Costumed ponies have been made illegal by the Mare-Do-Well Act and shunned by society. Two “heroes” from the former Yearlings, only one of whom has any real powers, are allowed to operate by the unicorn government. Masked vigilante Pollock, one of the few active masked heroes, embarks on a quest to unravel a plot that could have world-ending consequences.
One of their own is murdered: The Engineer, Applejack, a jingoistic government assassin also known as The Troll. Slowly, her former associates come out of retirement to discover who is responsible. Their numbers include: Rainbow Dash, aka Nite Owl, an out-of-shape and technology-obsessed fangirl of Twilight Sparkle, the original Nite Owl – who was transformed into the world’s most powerful alicorn in a laboratory accident: Dr. Manehattan, who seemingly holds the fate of Equestria in her hooves, yet has become friendless and alienated from ponykind; Rarity, or Ozyglamorous, a fashion designer, toymaker and captain of industry, who is the world’s smartest pony; and Fluttershy or Shy Flower, who turned to crimefighting to overcome a traumatic past. The mission of the watch ponies is to watch over Equestria… but who is watching the ponies?
Fluttershy awesomeface vector by wakabalasha – MDW logo vector by lordbojangles
This is a parody of the back cover of  
Watchmen, in case you didn’t guess :P
semi-grimdark32356 artist:ponyweed32 fluttershy229598 mare do well1010 alan moore3 awesome face232 button993 caption23501 comic118626 cover3118 crossover66785 damon lindelof1 dark horse comics6 dc comics1601 frosting797 implied violence63 parody16277 ponified44610 quote1304 smiley face232 sprinkles429 superhero1798 watchmen99


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“Come, Opalescence. My new world awaits. It demands less… obvious heroism, which is why I’m canceling my line of My Little Pony action figures and replacing them with a new line of glittering, pastel posables!” squee “… at night, I wonder if the cost to save the world was worth it. All those human lives…”
CardStock – could be.