@DeadParrot222

Not a legal expert, but I have looked into this. Megasweet could indeed be subject to a suit from Hasbro for using Dash's lickeness in her work – that she has continued to make MLP art without a lawsuit (along with the rest of the community) is simply due to Hasbro's good graces combined with the extreme difficulty that one would encounter when trying to tame a fandom this large.

That being said, even though this picture uses Hasbro's intellectual property, it is not Hasbro's image. Megasweet is indeed the creator of this work, and it is protected under copyright. What all this means is that if you want to sell this image, you not only need Hasbro's permission to sell MLP related artwork, but also Megasweet's permission to sell this particular piece. It is the second requirement that got Hot Topic and We Love Fine in trouble.