Step 1: Draw two circles about the same size and position one a little be below and to the side of the first. Then connect them as shown in this step.
Step 2: Here you will draw the ponies eye, ear, mouth and flowy long hair. Make sure the hair extends past the lowest circle.
Step 3: Draw a front bang on the ponies head and also give her a crown, to show that she is a princess. You will also use the guidelines to frame her body and legs.
Step 4: Give her more hair beyond her bangs. Give her a cute necklace, and hooves on her feet.
Step 5: Give her even more long hair for her tail to match the long hair on her head. Don't forget to draw her back leg.
Step 6: Your pretty princess pony is now complete.