Sweetie Belle looks unbelievably adorable and fluffy and cute. I have the overwhelming urge to just hug and cuddle her.
Nice slight twist to the body, it actually makes it look like her body is being propped up by the pillows. The wink and sticking her tongue out make it clear she's just enjoying being a little flirty and fluffy.
I'm not going to comment on the...other version, though I am rather surprised this is the pic where you do decide to specifically include that bit. Does this mean you'll be going full-on NSFW in your pony art eventually? If you do, I certainly don't mind, but it's your choice.
I ABSOLUTELY LOVE IT! who new sweetie belle could be sexy yet inocent at the same time! this is a lovely image that every pony should enjoy. i think this could be very famous and should be in thousands of groups and all should be all over the internet. this is already in many groups and i can tell it already famous. you should most definatly make more of these. maybe make the rest of the cutie mark crusaders and the mane six? anyway you will always get a good critique rating from me. please make more ,PLEASE PLEASE PLEASE!