Vintage My Little Pony G1 Dream Castle Majesty 80's toy play set Accessories. The horse was Majesty and the dragon was Spike. I remember the felt banners, they didn't last because the holes ripped over time.
It's SO bizzare to stumble across a toy you forgot you had...and then the sight of it brings back EVERYTHING. How it smelled, the texture on your fingers, what you did with it....this mermaid just did this to me. I have no idea what toy it is, but I had one in my tub.