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At first it was Fluttershy, she was too cute to resist. Then after the cuteness grew accustomed to me, I really fell for Twilight, her character grew ridiculously lovable thanks to the Slumber Party episode, I mean Jesus Christ, Fluttershy never reached the degree of cuteness TS had there. Twilight is probably second though, having watched the current episodes over a few times, I gotta say, Pinkie Pie really is my favorite. Approach to life, her hilarious cartoon self-awareness, and her songs; she's like the living incantation of what used to make cartoons of the 90s so great. Hell, take her personality, she'd fit right into the Animaniacs, it makes her impossible not to love once you begin to get into her character.
TL;DR: Pinkie Pie is the shit