Seven Songs and a Story
From My Little Wiki
"Seven Songs and a Story" is the name given to describe either the Picture Disc (33rpm vinyl record) or Cassette released via mail order in the UK.
As the name suggests it featured seven* songs with a story that linked them. The first song introduced the ponies involved, Posey, Tootsie, Cherries Jubilee, Bow Tie, Applejack and Lickety Split, then each pony had a song of their own.
Here is "Who's A Silly Pony?" with fan made videos: