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Mlpheart

The third incarnation of My Little Pony began in 2003 and is often referred to as Generation Three or "G3" by collectors. The revamped line of dolls was targeted to a younger audience than the previous lines.

Generation Three is set in the fictional town of Ponyville, which is centered around Celebration Castle. Only Earth Ponies were released from 2003 to 2005, but in 2005 and 2006 Pegasus Ponies and Unicorn Ponies were introduced.

Until late 2005, packaging came with Pony Points that were later used for exclusive mail orders. Unlike the "G1" line, the Pony Points had to be mailed in to order; a customer could not pay a flat fee and add points to it to lower the price. Some of the ponies available with the Pony Points program were Dazzle Surprise, Sunshimmer and Love Wishes. Other merchandise included posters or a play mat to put buildings on. The points program ended on 31 January 2006.

While the line was simultaneously released in the U.S. and Europe, there are a few ponies unavailable in the U.S., such as Winter Snow and some small, fairy-like ponies called Breezies who first appeared in the animated feature The Princess Promenade. One of the most uncommon ponies in this third line was released by mistake in 2004. A Pinkie Pie with the words "2003 Licensing Show" embedded into her symbol was used to promote the My Little Pony toy line at the 2003 Spring Licensing Show, and were intended to be released only at that show in a limited edition of 300. Due to a packaging error, a few were packaged as regular ponies and sold in stores. Other limited-edition ponies have been the Pony Project promotional ponies and Rosey Posey, who was given to attendees at a charity dinner held by Hasbro.

Recognizing the older fans of its line, Hasbro has released special collector ponies noticeably different from the regular "G3". While some had a general release as "Art Ponies", many are available through special events, such as the annual My Little Pony Collector's Convention and the San Diego Comic Con. These ponies are elaborately designed, such as the underwater-themed art pony which has fish and sea creatures printed all over its body, and come in matching display boxes. The 2011 SDCC pony is black and pink and has a kawaii skull instead of a "cutie mark". There is also a white pony available to customizers. Despite the redesign as Core 7 and the advent of the Friendship is Magic line, Hasbro has continued the collector-themed "G3" ponies in their original poses.

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