Seriously, if animated Conan and Leno ponies spent 22 minutes a week fighting each other with magic I would tune in. Conan would launch magic out of his hair while Leno would shoot it out of his chin. It would be epic.
You may, or may not, have noticed that each late-night pony has a cutie mark. The MLP:FM Wiki defines the cutie mark this way:
The episode Call of the Cutie deals with the meaning and appearance of cutie marks. Cheerilee, the school teacher, explains to her students that ponies are born without a cutie mark. The cutie marks are obtained when ponies discover a unique characteristic that sets themselves apart from others. The meanings of cutie marks are not always literal: Cheerilee’s cutie mark is three smiling flowers, and she explains it represent her wish that her students “bloom” and be happy.
Kimmel’s cutie mark is a mug of beer. He likes beer a lot, and working on The Man Show was his big break, so it seemed appropriate.
Fallon’s cutie mark is a four leaf clover. It’s his mark on the Late Night monologue stage, most likely because he is of Irish descent.
Ferguson’s cutie mark is the flag of Scotland. He was born and raised there. He’s an American citizen now, but he’ll always be a Scott first.
Conan’s cutie mark is the Harvard seal. Conan attended Harvard and was a writer for the Harvard Lampoon humor magazine.
Leno’s cutie mark is the NBC logo. He will be forever tied to that network and some of its more historic turmoil.
Letterman’s cutie mark, which isn’t shown, is Johny Carson. Most of us have heard of Carson, some of us admired him, Letterman adored him.