1. Originated from video games only 
2. Been on a Nintendo system at least once
    
   This is why I can’t stand when people make a stupid request like say, Goku for example. It’s like they intentionally want someone to point out their ignorance.
    
   Cloud Strife on the other hand meets both requirements. He was in the Kingdom Hearts series and both Theatrhythm Final Fantasy games for their handhelds.

Also, Corrin from Fire Emblem Fates is in.

 

1. B: Magic Bolt
    
   Sounds like a good example of what would make a good standard B for Twilight. However I disagree with the attack losing its charge if you don’t fire until you want to. It may work as an alternate standard B that fires stronger attacks but not as the default.  
   While it can work like Samus’s, Lucario’s and Mewtwo’s standard B’s, I can also see it working like Robin’s standard B, without Twilight running out of uses. I can see the Magic Bolt at its lowest level working like Fox’s Blaster.
    
2. Side + B: Telekinesis
    
   Umm, the way you described the move sounds like it work as Twilight’s grabs and throws. That’s not a bad thing but since it sounds more like grabbing and throwing, it shouldn’t be her side B.  
   I haven’t come up with what my side B for Twilight would be but since yours is called Telekinesis, I think it might work like Mewtwo’s side B. A reflecting attack might work for Twilight.
    
3. Up + B: Sonic Sparkle-Boom
    
   Eh, heh, heh, heh….I actually thought teleporting as Twilight’s up B would be most fitting. ^^; It would be like Zelda’s up B. How to make it more unique compared to Zelda’s up B is the bigger challenge. Inflicting damage on fighters between where she teleports from and to sounds like a good idea though.
    
4. Down + B: Shining Shield
    
   A magic shield attack for Twilight does sound possible. Now I really like this shield attack I saw from a WIP fangame called Friendship is Epic (which you can watch here) but since I can’t really tell what its full properties are from the gameplay, I thought for now it can be used to push opponents away from Twilight and it can last for a few seconds once activated. Twilight can use it to prevent her opponents from trying to recover from a fall KO and opponents that do go in it once Twilight casts the shield and leaves it start taking consecutive damage (much like getting poisoned, the Lip’s Stick effect and getting caught in Ashley’s magic barrier.)
    
5. Left/Right + A Smash: No. 1 Assistant
    
   Funny idea but I can’t see Twilight using Spike in any of her attacks. While I don’t have a settled side smash for Twilight, I can say that it definitely involves her magic. In fact almost all of Twilight’s moves involve using her magic, much like Zelda.
    
6. Up + A Smash: Tail Bash
    
   Sounds like a cool attack but I don’t see Twilight using it. It would be much more fitting if Rainbow Dash or Applejack used it.  
   Since I happen to like ponies’ tails, I can see the majority of the MLP fighters having at least one attack that involves using their tails to attack which is best fitting as their Down + A tilts. Even though we aren’t at these ponies yet, I can tell you that everypony’s tails have different offensives. What I have for examples are:  
   Applejack: Her tail inflicts the most damage.  
   Pinkie Pie: Her tail has the highest launch rate.  
   Rarity: Her beautiful curly tail can pierce shields.
    
7. Down + A Smash: Research
    
   I sadly can’t see this as a normal move, let alone a smash attack.  
   Twilight is already very powerful on her own and while her knowledge can make her stronger, I personally would see her using something else for her down smash. Maybe something like Pikachu’s Thunder Jolt or Mega Man’s Plug Ball from Mega Man 9.  
   I can see Twilight reading a book as one of her taunts though.
    
8. Final Smash: The Elements of Harmony
    
   Twilight using the Elements as her final smash is a no-brainer. But here’s the problem, the crossover I had in mind involves all of her friends as separate playable characters. So how she uses the Elements all by herself is something I don’t know how to explain.  
   As for how her final smash works, what I have in mind is a giant magical beam that you can control. Think of Lucario’s old final smash from Brawl and how Ness’s and Lucas’s Starstorms work in SSB4.
    
9. Dodging: Teleportation
    
   Yep, using teleports to dodge is something we can expect from Twily. :D The sound effect used for her teleports would also be a nice touch whenever she dodges.
    
10. Jumping: Limited Flight
     
    This ability is actually shared among all the other Pegasi and Alicorn fighters in my crossover. Everypony can fly freely for certain amounts of time after performing their double-jumps, giving them great recovery and easy air attacks. But since this is the realm of Smash, their wings will stop working when their flight times expire and will fall in their prone positions.
     
11. Taunt: Pony Hugz!
     
    As cute as it sounds, I don’t really see anyone else even the MLP characters having a taunt that can actually inflict damage outside of Luigi’s little kick.  
    The ponies can have some cool taunts based on scenes from the show though, like how I mentioned earlier with Twilight deciding to read a book as one of her taunts. Some of their taunts can also be them striking original poses while making their own battle calls.
     
    And that’s all I have to say about your ideas for Twilight! From the minimal stuff that I’ve written for her that I haven’t addressed yet, I would consider Twilight’s base stats to be well balanced compared to her friends, except when it comes to magic.
     
    I’ll reply to your ideas for Pinkie soon but first, I’m gonna reply to some of yours and others’ comments here.
     
    @SuperDEF  
    So does that mean Pinkie hurts herself with every successful attack she pulls off? Eh…no thank you.
     
    @Joseph Raszagal  
    Of course! Just let me respond to your ideas for Pinkie first please.
     
    And not to worry, I always update the move lists for everypony if I see any of them use something cool in recent episodes that I think would be worthy as one of their attacks for a video game.