Smallest - The falabela of Argentina was developed over a period of 70 years by inbreeding and crossing a small group of undersized horses originally discovered in the southern part of the country. Most adult specimens stand less than 30 in high and average 80-100 lb. Rayford Ely, founder of the Worldwide Miniature Horse Association, can be seen here with 'Playboy,' one of his eight miniature horses. (Photo: Retna)