Giant Derpy galloped along the ground, Knight Spike on her back. He carried a red flag in his left hand, with his lance in the other.
"Oh no you don't!" A golden lasso lashed itself around Derpy's tail, causing her to trip, planting face-first on the ground. Applejack as Mistress Mare-volous stood there, her confident grin unshaken. Spike rose to his feet, and hurled his lance like a javelin at her. She jumped sideways, the spear missing her, then tackled Spike to the ground, grabbing the flag with her mouth. She jumped up, and ran through several streets, heading for the center of town. "Ah'm gonna win this!"
Then a loud honking noise was heard, and a four-wheeled vehicle came roaring into view, strange music blaring from its speakers. Applebloom was behind the wheel, and she grinned like crazy.
"Sorry sis, but that flag is ours now!!" she called out. Sweetie Belle leaned out of the passenger seat, and tore the flag out of Applejack's mouth.
"Hey!! Y'all get back here-" Applejack was interrupted by a hail of gunfire, courtesy of Scootalo, who was ponying the tri-barreled machine gun mounted in the back of the vehicle.
Applejack awoke, suddenly gasping for air. She calmed herself, then looked at the time. It was 2:34 AM.
"Dang it, now Ah don't get to see whose gonna win", she grumbled. "Ah well, it was only the first one. There'll be more in the future." She turned and looked out the window at the moon. "Although Ah wonder how Applebloom is doing..."
"Look out!!"
Sweetie Belle's warning came too late, as Filthy Rich came flying in on a raft of golden bits. He raised his right hoof, and a stream of bits came rocketing out, breaking the vehicle's windshield and burying Applebloom and Sweetie Belle in an avalanche of coins.
Scootalo fired the gun, but Filthy Rich dodged, sweeping in and grabbing the flag from the top of the pile.
"Not so fast!!" There stood Rainbow Dash as Zap, and a lightning bolt descended from the skies, electrocuting Filthy Rich, who dropped the flag. Before Rainbow could grab the flag, a manticore came out of nowhere, with Fluttershy on its back. It impaled the flag with its tail, and let out a roar that blew Rainbow's hair straight back from her face.
"Hey Fluttershy, not cool! So not cool!" Rainbow protested. Scootalo got out of the vehicle, and started digging through the pile of golden bits. Giant Derpy came around a corner, Spike once again mounted on her back.
Before Rainbow could make a dash for the flag, a blue box appeared out of nowhere, hovering in midair next to the manticore's tail. The door opened, and Doctor Whooves reached out and grabbed the flag.
Then Prince Big Mac came diving out of the sky, snatching the flag away from the doctor. "Yup!" Scootalo pulled Applebloom and Sweetie Bell out of the pile of golden coinage. Spike leaped off of Derpy and grew wings, chasing after Big Mac. Big Mac bucked a giant apple at him, taking Spike down for the count.
"No one hurts Spikey-wikey!!" Rarity declared as she arrived, riding on a flying carpet, and a mob of scarfs attacked Big Mac, tying him up thoroughly. The red flag floated to Rarity, who eyed it and said, "This must be elegant and presentable." She sowed the rips and tears closed, but at that point Pound Cake flew up from the town square, carrying his twin sister Pumpkin Cake, who proceeded to teleport the flag to the top of the town hall.
The mayor clambered onto the roof, reaching for the flag. Just before she could touch it, Twilight Sparkle teleported in, picked up the flag, and teleported back out.
Rainbow dove instantly into the Golden Oak Library, catching Twilight by surprise. She grabbed the flag, then flew out the window.
Then a triangular shadow fell over the town, and a massive ship loomed overhead.
"What the-" Rainbow began, only to be snagged by a tractor beam and dragged into the hanger bay.
Pinkie Pie bounced into the hanger. "So, who did I catch?" She saw Rainbow, and said, "Oh, I caught Rainbow Dash!!" She bounced over to Rainbow, who was still being held by the tractor beam, then took the flag from her. "Tell the captain to jump to lightspeed", she said to the bipedal creature clothed in grey.
At that point, a fizzle of yellow circles heralded the arrival of the CMC. Applebloom materialized in the hanger, wrenched the flag out of Pinkie's hooves, then disappeared.
At the same moment, Sweetie Bell and Scootalo appeared in the room next to the reactor. While Sweetie Bell knocked out all the personnel in the room, Scootalo attached a fifty-megaton nuke to the side of the reactor core and set the timer to five seconds. Then they vanished.
The explosion wiped Ponyville off the face of Equestria, leaving a crater a mile deep and ten miles across.
The CMC rematerialized in the center of the crater, where Luna stood inside of a glowing white bubble, her horn emitting white light and her eyes closed in concentration.
"Princess Luna!! We've got the flag!!" Applebloom said exuberantly.
Luna opened her eyes. "Indeed you have it - although I think that wiping Ponyville off the face of Equestria was a bit extreme."
"Well, we didn't summon a giant ship out of the sky. We just blew it up."
"That is true", Luna said, smiling fondly at them. Then she took a deep breath.
"THE WINNERS OF TONIGHT'S COMPETITION ARE THE CUTIE MARK CRUSADERS!!!!!" Luna declared in her royal Canterlot voice.