Powder, Mint on "Fable" card
My sincere thanks to Leikin, Katrine and Norrskensljus for
all their help regarding this release!
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This set was sold in Scandinavia, Finland, and Australia. I
have some bitterness about the release, because the cards are in
the UK style, and it seems likely they were also at one point
intended for the UK market. This set included ponies that
appeared in the comics in the UK around 1986, so the intention
to sell them here must have existed at some point. They never
actually got here, however, and our evidence for the set is
constantly being amended and updated.
You will notice from the image above (donated by the
lovely Ponyland/Norrskensljus), that the term
"Fable" does not appear on the card. There are good reasons to
choose this as a correct set name, however. Firstly, this card
was used in Germany for unicorn and pegasus ponies made in
Italy.

The banner on this card reads "Fabelponys" - Fable
Ponies. The word 'Fabelpony' is also used to describe Rainbow
pony Hummelchen
in her backcard story (the term is used instead of 'pegasus', as
appears in the English story.) Clearly 'Fabel' (Fable) is
synonymous with fantasy breeds, fairytales and, well, unicorns
and pegasus ponies.
Adding to that, a pamphlet in Sweden from 1986 referred to the
unicorn and pegasus set as "Sagoponnys" (Which can be
translated as Fable Ponies!). So this seems to be a pretty good
name for the set. I think it was first coined by Norrskensljus,
but I like it, and it works, so let's make it official.
I feel the need to do this here because we are all (even those
of us who dabble in European ponies, and sometimes even those
who dabble in these specificities) are guilty of using this term
as a shorthand. In fact, things are never quite that simple.
With regards to this set, we know for a fact that they were sold
in Sweden on these cards, and seem to also have been so in
Norway and probably Finland (which is not technically in
Scandinavia, but is another Nordic country). I am not sure about
Denmark, because they did also have their own releases of some
of these ponies on cards in Danish. Many of these used American
artwork, with translated text. I do not have permission to share
any images of Danish carded ponies for comparison, but they are
quite distinctive in comparison to the card pictured above.
While most of the discussion around this set is linked to
"Scandinavia", we also have indication these existed in
Australia, and they were also in South Africa. Then there's the
question of Germany. While I currently have no evidence that
this set made in Hong Kong were released there, this style of
card (featuring ponies made in Italy) was sold over there (as I
mentioned, the Fabelponys is from them). So while we are talking
"Scandinavia", please be aware that this is a generalisation at
best, and only an overview of roughly where these ponies were
sold.
The most notable variations in this set are Moondancer,
who appears in yellow (she looks a bit like cheese!) and Gusty, who has
green eyes and glittery symbols. It is not clear whether there
are minor variations between other ponies in the set and the North American year
3 release, although this could relate to batch given their
slightly later production date. The stickers from this set are
different from the American release versions because they are on
yellow backing, rather than white. Gusty's sticker is dated
1985, while the others are not date-stamped. (Credit to
Norrskensljus for the research on stickers and Fables).
While I believe there are eight ponies overall in the Fable
set, the fact that two ponies were sold on this card without
being illustrated on it does raise some questions about this. I
do not know if Glory
or Medley
were ever part of this set. Anecdotal evidence suggests some
straight haired Medleys
and Fireflys
have been found in childhood collections in Norway (thanks to
Katrine for this information). This may indicate an earlier
import release in Norway of the original pegasus and unicorn
set, or that different ponies were sold in the Fable set in
different areas.
To date, there is little information/evidence that Glory was
sold in any of these countries.
Surprise, Sparkler and Firefly appear on the front of the Fable
Pony card; the back features Surprise, Heart Throb, Skyflier,
Sparkler, Gusty, and Firefly. Although Yellow Moondancer is
known to be a part of this set, she is not depicted on the card,
and nor is Powder (despite the mint on card image above).
I am always interested in new or corrective information
about this set, so if you have any information to impart,
please get in touch. I am also interested in obtaining a Fable
Pony backcard (any pony) for my backcard files.
It appears that this set was only sold in 1986, and was
replaced by the Movie
Stars set in 1987.