I loooooove your watercolor ponies! The highlights always stand out so wonderfully and make the whole picture seem glowy and inviting!
The pose these two are in is suggests a wonderfully tender moment. I like how Bon Bon is nodding off but Lyra is still wide awake. Each of them is enjoying the moment in their own way.
You did a fantastic job with the shading, not just the shading of the ponies but also the shading of their environment. It shows you have a lot of expertise with watercolors as a medium. The background and prop colors are well-chosen and contrast well with the ponies.
The only criticisms I have to offer are the color of Lyra's mane, which seems a bit bluer than it should probably be, and the position/shape of her right hoof, which seems a little noodle-like for some reason.