Hey, I love this picture! It's mostly because it's so darn goofy. I love how everything is exaggerated. This was before MLP was a thing. I just assume that all fanart involving horses was about them. It was nice to see something different, albeit not intentionally.
I guess it's like steampunk. I just seem to assume everything is like steampunk nowadays. It is a cool style. The use of colors is great. That guy's chin seriously looks like balls.