Cute!

They recreated Ocraina of Time and Banjo Kazooie in Super MArio 64. Why not Equestria?

Animated textures in Blender are a right pain in the ass, there are scripts out there to help, but I’ve never figured them out.  
What you could do is place the eye on a separate mesh that’s very close to her head. When it comes time to blink, swap that eye out with a duplicate of that mesh with a different texture. These duplicate eyes meshes can be hidden somewhere off screen, or within the character being animated.  
 
All the duplicate eye meshes were in the same object, and swapped out by switching their places in new shape keys. Made sure the interpolation was on constant so I could adjust how long each frame lasted, then hooked up the animation action to a spacebar actuator.

You can probably make the eyes blink by animating the UV map for the body’s texture to move the mapping for the eyes to another part of the texture with closed eyes, but I’m not positive.

Reminds me of good ol PS1 graphics, really nice. :3

MLP N64 Mod NOW

i love these

Neat PSX graphics