The one thing I never figured out is what word is omitted in the first panel. It’s supposed to rhyme with “best”, right? The only thing that comes to mind is “chest”, but pony chests are SWF and have nothing to swell.

@Background Pony #EEB0
If she were jealous wouldn’t she just take her dream-shadow’s place?

Is luna jelly or angry

@Celladoir  

Actually, she’s just mad her butt was called small. At least that’s how I saw it for years.

@toonbat  
In the first panel, Anon is fawning over a tiny woona in his dream, uttering inappropriate rhymes. Luna, dreamwalking, encounters him.
 
In the second panel, she declares she will punish him, likely through sexual deeds.
 
In the third panel, these deeds are occuring just slightly off camera, as Anon cries out that he deserves her moon justice and whatever punishment she decides, all while a stranger watches on the hill in the distance.
 
In the fourth panel, it is revealed that the stranger on the hill is the actual dreamwalking luna, who is frustrated, annoyed, and perhaps sickened by what she is witnessing, and that everything that previously occurred has been a dream and fantasy of anon’s, including being caught and punished by a dreamwalking luna. Also Anon declares that Luna’s tiny rear excites him so.
 
 
I hope this helps.

I have no idea what’s happening in the third panel.

Hahaha

God, that Inception tag is appropriate

Wait, which one is the real Luna? Because it’s possible dream!Luna’s pissed that real!Luna’s muscling in on her action.

This is so dumb, but I still laughed D:

Lunaception!

@gittonsxv  
Everyone has the same dream, only with differing amounts of Luna layers.

wait..  
his dream is to be caught by luna while dreaming he is molesting luna!?

At least your butt isn’t as tiny as Chrysalis’

I don’t think annon and Luna are thinking of the same type of “punishment.”
 
I suspect 40 years of hard labor are in order.

yeah, luna’s tiny butt is so smexy

Oh god Ponyception my brain is full of fuck

I’m with the first BP; it’s the “tiny butt” comment that made real Luna all scrunchy face.

@ponypon  
More like a dwarf Moon. XD

Weaver, I blame you for getting me kicked out of the library!
 
:D NEVER STOP!

@Tyrone  
Her buttocks are so small and square they barely register as a moon.

Thats what I’ve been saying about Luna’s butt for a while now. HER moon is SO small. Thats one Hearths warming eve gift, those pants that makes your butt look big. You’re welcome, Luna. XD

Implies the other two comics were the same way.

lunaception

So 1st Luna was dream Luna?