The carousel fakies, donning beautiful decorated saddles, are named as such due to their resemblance to carousel horses that one might see in real life on a merry-go-round.
As carousel-horse-themed ponies seem like a natural connection to make in a horse-based toyline, My Little Pony proper has itself had a go with carousel horses, producing the fancy Merry Go Round Ponies in year seven of G1.
In G4, the character Rarity also operates her business out of a building themed after a carousel.
The fakies are dressed up in their saddles like the Merry Go Round Ponies. Though not quite as ornate looking, they are still nicely decorated and colorful.
There are both babies and adult ponies with decorated saddles in my possession. The babies all have the same pose, looking up to the sky, dressed in simple saddles.
The big pony has long yellow hair and glass eyes. The sculpt of her saddle is much more detailed than those of the babies.
She shares her green and yellow color palette with two of the babies.