That Wave Jumper, was in AMAZING condition. I've been collecting well over 10 years, and wow. I've never seen one look that good. Wow.
The sea mist gets cancer by just looking at it, so for him/her to have found a perfect one to have create a fake MIB, that's a long shot. Why would someone spend the time it took to find a mint Sea Mist (Approximate value - $1

, obtain a similar ribbon, print off a sticker for $400? Esp since the last sea ponies that sold MIB went for just around $200. The profit just isn't there. Even to sell multiples of different ponies, the profit isn't there
Stuff like this turns up all the time. A few years ago at a Barbie auction (it's in a past issue of Barbie Bazar) someone found a protype of Barbies Dad's head. After visiting Hasbro's offices at the pony fair two years ago, with a chance to look inside the employees offices, you'd be amazed at how many toys on their desks. Someone had their wall covered with MIB action figures, including all of the S Club.
Another odd find, was years back, someone found A LOT of Baby TAF Dancing Butterflies Mint in package. They had a pic of a glass bowl just filled with them. Odd things turn up all the time. It's the greatest part of collecting. What's going to turn up next???