<EDIT> Since I kinda rushed to get this into the contest, I decided to fix it up a bit so it looks decent enough to submit to groups XD. Added more shading to the body, mane, & tail, added more detail to the eyes, added more fluffiness to the cotton candy, and made a quick background for it.
ALSO: I contacted the person running the contest and she had no problems with me updating it, since the changes weren't dramatic. </edit>