So, to get the ball rolling, I'll go ahead and post some things I drew recently. These are the first things I've really tried to draw in years, and the fact that I don't completely hate them, and got very nice feedback on the pony threads when I showed them is what inspired me to start this thread.
First, some disapproving Twilight:
Thoughts: I really don't like how the eyes turned out in this one. They're too small and the irises and pupils are wonky. Still, I think the rest of the head turned out ok, although the proportions might be a little off. I'd link the picture I sketched it from, but it was a screencap macro with non-board appropriate language.
Second, have a happy Pinkie Pie:
Thoughts: I like this one more than the Twilight one, although the eyes are still off. Pinkie's hair is really fun to draw, although a little intimidating at first...
Finally, some smug Rainbow Dash:
The original (mild language, darn you macros!):
Thoughts: I tried to cheat with closed eyes, but then I found out that wings and legs are hard! I still think the perspective is a bit off on the three forward legs, but not terribly so. Also, I'm fairly happy with how the wings turned out (guide lines for the win!)