Water Rainbow

Water color and Rainbow, get it? Water rainbow? Yes? _{yep, I fail at jokes}
I have no idea what's up with Rainbow's mane.

Decided to spend a little more time on a watercolor, still not a full piece. No sketch-lineart this time, though. (yeah, previous deviation's linart was literally a refined gesture)

Critique is appreciated, especially on the style (style as in the watercolor, or detail, basically the work after the planning/sketching phase. Not anatomy). I just switched to this style, so that's why I'm asking. (is that even what the term 'style' is?)