Well, considering that the starting races would be either unicorn, pegasus, or earth pony, I'd say the only way up there is through a race perk or having a high enough alteration skill.
I think an Elder Scrolls Equestria would be pretty damn fun. Starting races would be Earth Pony, Pegasus Pony, Unicorn Pony, Baby Dragon, Griffon, or Alicorn. Starting Perks:
EP- High strength and endurance, resistance to cold PP- Low strength, ability to fly and walk on clouds UP- Ability to re-use magic read from scrolls, but physically weak BD- Can breathe fire, very high dexterity due to opposable thumbs GR- Ability to fly, stronger melee, cannot use magic AL- Can use magic and fly, but not as well as UP or PP, physically very weak
[I have so much strength inside of me that you don't even KNOW what I could do. If the world isn't going to love me then I'll teach it to fear me instead.]