My first reaction to this, and please note that it was a humours one, was "Oh lord, poor Rarity". I have never seen such a crossover as Looney Tunes and MLPFIM. But I like what I see and I like what you did with the picture. Next to the characters the background is the next best part of the picture. It's a very detailed sunny winter setting which I find to be one of the best types of backgrounds. I can only imagine how Rarity got there but I'll bet Bugs and Daffy think "Rather her than us". Great job.
The concept is brilliant keeping with the characters actions with canon cartoons. The main problem is characters who are white in an environment that is white, the use color to highlight their bodies is done well and not obvious for the effect. The sky effects bring the characters to immediate focus. This is well done an nicely colored piece. The capture of the characters make them easily recognizable. The entire piece is very funny and clever. Despite their size differences they are well done. There is no need for an elaborate message on the piece. It is very original and well conceived from an idea and execution.