I Love Crossover so, here’s My Opinion XD
 
Mario - Element of Magic (Twilight Sparkle)  
Sonic - Element of Loyalty (Rainbow Dash)  
Green Shadow - Element of Generosity (Rarity)  
Luigi - Element of Kindness (Fluttershy)  
Jibanyan - Element of Honesty (Applejack)  
Yoshi - Element of Laughter (Pinkie Pie)  
Waluigi - Element of Courage (Sunset Shimmer)  
Whisper - Element of Justice (Starlight Glimmer)
 
Please, don’t Ask why
 
Super Mario (c) Nintendo  
Sonic the Hedgehog (c) SEGA  
Plants Vs Zombies (c) Popcap  
Yo-kai Watch (c) Level-5 and Hasbro  
My Little Pony (c) Hasbro  
Picture (c)  
Base (c)