Twilight Sparkle
Princess Celestia's star pupil, and The sPrincess of Friendship.
Twilight is a light moderate zoning fighter, with plenty of tools to allow her to hold her own up close while putting in enough abilities to let her keep enemies away from her.
Twilight can teleport to various areas around the stage, shoot magic sparks from the tip of her horn, and even create magical traps using pages from her book: The Egghead's Guide to Fighting!
She is also able to fire a powerful laser beam from her book to tear down the opponent's health and end combos. 
That's not all, Twilight can overcharge her body with magic, and cause a Magic Supernova around her body that deals fatal damage!

 

A farmer on the Sweet Apple Acres apple orchard. She works for her grandmother, Granny Smith,alongside her brother, Big Mac, and her sister, Applebloom, 
Applejack is a rushdown/grappler type character. She can use her rope lasso to grab enemies from a distance, and even take opponents out of the air! She can also use her strong hind legs to Applebuck her enemies. When both legs are used, prepare for quite a painful attack! Another one of Applejack's skills is the Applequake, which causes a small earthquake that damages the enemy, and launches them slightly. Applejack also possesses the ability to Air Grab, and use Up and Down grabs on the ground!
Applejack can also perform Summer Rambo, a full-screen charge that deals a ton of damage. If you have a second level of super to spend, you can use it to deal even MORE damage with a finishing kick after the initial headbutt.

 

The best dang party planner in all of Equestria! She also represents the Element of Laughter.
Pinkie Pie sure is a nutty character, who relies on playing mindgames and using her tools to the crazy limits they have. She can bring out her Party Cannon to blast opponents away, perform gravity defying backflips, run off the stage and come crashing down from the sky, and also perform fast moving cartwheel attacks that are sure to leave you hurtin'!
On top of all that, just wait until a couple bars of her Super Meter fill up! She can place down a giant present that will explode after a short period of time, or assault you with a massive barrage of sweets. It might not sound too bad, but it isn't very fun.

 

The element of Generosity, and owner of multiple boutiques across equestria.
Rarity is a heavy keepaway fighter, with plenty of gem projectiles to satisfy all of your "Stay Away From Me, You Ruffian" needs.
She can summon Gems to launch at her opponent from in front of her, or behind the opponent to extend combos. Erupt a shatter gem from the ground underneath the enemy to sweep them off their feet. Send gems flying towards the enemy in the sky to pierce through them. Call Ward gems down from the sky to take enemies out of the air.
She can even summon Pillars or Storms of gem barrages to damage the opponent. By far one of the best zoning characters in the game.
Rarity is VERY good at keeping you away from her. Your best bet when fighting her, is to get in close and don't let up on her.

A Show Mare with something to prove, Trixie crashes the party that is Fighting is Magic, ready to show her rival Twilight Sparkle that she IS the best!
Trixie is the best zoning character in the game to date. She can summon magic surges that appear mid-screen to damage the opponent, and combo them from a distance, summon full-screen laser beams that can catch opponents just before they take off into the air, summon hurricanes to launch opponents, Teleport toward the opponent, away from them, or just stay in place and fake the opponent out, and Counter attacks to fill her Magic Meter. Be warned, while you may have full magic meter with Trixie at the start of a match, it can and will be depleted quickly if you aren't conservative with your special attacks and Magic Surges.
But that's not all she can do. Trixie can launch an X cross of fireworks to damage the opponent, and use her recently improved magic skills to blow the opponent away from her.

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