The stories here are tales passed down many generations to the colts and fillies of generations, and the morals in them are studied by many ponies, young and old. This is a growing collection of those stories for public viewing in the Canterlot Library, the first of which gave the namesake of this collection and was, perhaps was perhaps the most known, and perhaps the most chilling of Neighsop's works in Equestrian records.
(Notes: In universe, this is a collection of tales being collected for public viewing in the Canterlot Library, but for the sake of this site it is an "incomplete story" until the collection is complete. Neighsop is a sort of OC stand-in for me, and the character is a writer who, in Equestria's past, told fables which are published in the Library, to give context to the backstory. As such, OC tag is there unless a story is published which involves a character from the show, most likely Celestia, Luna, Discord, etc)
I definitely wasn't expecting to open this up and find poetry! I'll add it to the FIMFic Poetry group in hopes of getting you some more views.
You've picked quite a challenging rhyme scheme with the quatrains all matching (AAAA). At times, it works against the story, and on balance I think you might have been better off with something marginally less restrictive like ABBA or ABAB, but props for the effort all the same. The slant rhymes generally seem well-used, especially given your constraints (the odd slant rhyme keeps things a little fresher when you have that much repetition).
Anyway, promising start, and I hope we see more from you!
Best,
H