The chestnut at the top is the regular run #5046. He only came in old plastic, is typically of a lighter and more orange-toned shade, grey hooves, and a mane and tail which is darker than the body. As this model was only available late 1975-76, the detail is much finer than the later releases on this mold.
The 1995 JCPenney special run below is a darker, redder chestnut than the regular run. He was only made with new plastic and has the loss of detail and mold deformities typical of the later releases. He also usually has four socks and pale to white hooves.
Often a bright lemon, though more realistic yellow-tan models can be found, the regular run #5045 palomino Quarter Horse Stallion was always made with the old plastic. He usually had a solid face and a off-hind stocking. Over-sprayed mane and tail were more common than not.
Also a regular run, but made with new plastic this time, 'Pumpkin' from the #10103 Seabiscuit Stablemates Three Piece Gift Set was a paler, more realistic shade of palomino than his predecessor. With the new masking techniques, the markings on this run were remarkably consistent compared to earlier runs. These models should have a crisp star, blaze, snip combo, near-side stockings, off-side socks, and bright white mane and tail. Of course, there probably are variations out there.
There are two distinctly buckskin releases on this mold and one which sits on the fence between bay and buckskin.
The top left model is regular run #5047. He is a nice golden buckskin, often with an off-hind sock, but can be found with a wide variety of leg markings, both distinct and vague (mine has a distinct off-hind stocking and three vague-socks). The quickest way to tell this run from the others is to perform the clunk test as these models are always old plastic.
The 1996 JCPenney special run on the bottom row is similar in colour to the regular run, but is always new plastic and often has a sooty cast to his coat. He should have an off-hind stocking, often paired with a near-hind leg marking, but as you can see, sockless examples exist.
On his own or with other bay models, the 1995-97 regular run #5186 Quarter Horse Stallion to the upper right can look like a dark buckskin, but when you place him with the other buckskins, he looks more like a bay. He is always new plastic and should be without any markings.
The #5186 regular run is back. Standing down on the bottom-right in the bay line-up he looks more like a dark buckskin or a sandy bay.
The only old plastic representative in this quartet is the regular run #3085 from the Stable Set in the upper-left corner. This guy can range from a deep, dark bay to a lighter red bay. The colour does stay fairly dark and red-toned. Leg markings can vary from none to four and rumors of facial markings are out there. Matte to glossy finishes are frequently found.
In the upper-right corner is the other regular run, #5210 English Rider and American Quarter Horse from 2005. This model is usually matte to satin in finish and is always new plastic. He should be a nicely shaded red-bay with a big splotch of a star with a little trailing tail, hind pasterns, and tan coloured hooves on the marked legs. The paint on the hooves of my model appears rather heavy; I'm not sure if this is typical of the run.
Lighter and more brown-toned than the others is the new plastic 1998 Sears special run. In addition to his four sporty little socks and tan coloured hooves, a model from this run should have a sprinkling of lavender or robin egg blue spots over his haunches. These spots are almost so fine as to be called a mist and at first collectors assumed they were a mistake.