Pearly Baby Sea Ponies, the second set of Baby Sea Ponies, were the first pearlized ponies, and the only ones ever available in stores in the US. They were printed in Year 4, between 1986 and 1987. Their name refers to a pearlescent coating that covers each pony's body. Some of the Pearly Baby Sea Ponies had been previously released with non-pearlized bodies, either in the first Baby Sea Pony set or in the UK. Some were also sold in the UK in alternate poses. (Two more sets of Baby Sea Ponies would be released in the US in later years: the Sea Sparkle Baby Sea Ponies in Year 5, and the Watecolor Baby Sea Ponies in Year 6.)
A new pose, the Ripple Pose was introduced with this set, as well as two new floats: the alligator float and the frog float. Each pony came with a float, a whale brush or fish comb, a ribbon, and a scented sticker.
Water Lily is a pearly pink baby sea pony with aqua hair. She has purple eyes and aqua fin markings. She is in the Water Lily Pose. Water Lily came with a light purple and aqua frog float, a light blue fish comb, a ribbon, and a scented sticker.
Beach Comber is a pearly light blue baby sea pony with blue hair. She has pinkish-purple eyes and blue fin markings. She is in the Tiny Bubbles Pose. Beach Comber came with a pink and mint green alligator float, a fish comb, a ribbon, and a scented sticker.
Sunshower is a pearly pale yellow baby sea pony with caramel-gold hair. She has blue eyes and yellow fin markings. She is in the Water Lily Pose. Sunshower was also released in Europe in an alternate pose. Sunshower came with a light blue and yellow alligator float, a yellow fish comb, a ribbon, and a scented sticker.
Ripple is a pearly white baby sea pony with dark pink hair. She has blue eyes and dark pink fin markings. She is in the Water Lily Pose. Ripple was also released in Europe in an alternate pose. Ripple came with a mint green and pink frog float, a mint green fish comb, a ribbon, and a scented sticker.
Surf Rider is a pearly lavender baby sea pony with light pink hair. She has blue eyes and pink fin markings. She is in the Tiny Bubbles Pose. Surf Rider was originally released in Year 3 as a non-pearlized baby sea pony. Surf Rider came with a blue and purple fish float, a whale brush, a ribbon, and a scented sticker.
Sea Shimmer is a pearly green baby sea pony with aqua hair. She has aqua eyes and aqua fin markings. She is in the Tiny Bubbles Pose. Sea Shimmer was originally released in Year 3 as a non-pearlized baby sea pony. Sea Shimmer came with a pinkish-purple and green turtle float, a lavender whale brush, a ribbon, and a scented sticker.