Another G4 fakie! This pony uses the big alicorn-style mold used for Princess Celestia and Nightmare Moon. I believe this pony is meant to be Princess Cadence.
She's all pink with blue eyes and silver tinsel in her hair. Her eye paintjob appears to be chipping. She came packed with a pale pink crown and yellow necklace. Both accessories are so flimsy that they bend when touched. Her cutie mark is a scratched blue heart with yellow filaments around it. There are white sparkles and swirls printed on her wings, and various blue hearts are stamped down her legs.
On her side, there is a crude picture depiction of what seems to be Princess Cadence, her unicorn husband, Shining Armor, and their daughter, Flurry Heart.
After the G4 movie reboot, several waves of ponies with mural-style scenes on their sides were released. All of the ponies have a portrait of themselves and some location related to them plastered on their bodies. They are known as "All About Friends" ponies. The concept of these ponies seems pretty weird-- it's like having a tattoo of your own face. In this case, this Princess Cadence fakie is likely trying to emulate that.