This one goes out to any hunter-jumpers with their ears on...?

An un-gaited, un-registered pony is probably NOT an Icelandic, period. But even if it is purebred, without papers, it will sell as grade. So lets just call her grade.

A grade, greenbroke pony, in my area will get you $200. MAYBE $500 if she is super fancy and gorgeous and a reasonable age. Maybe a tiny bit more if she is super fancy, and is absolutely by "So-And-So's Stallion Up The Road Who Wins All The Stuff Around Here"

Is she worth it?

Well... is this a resale project for you or a keeper project for you. If it's a resale project, then unless you can get her trained and jumping and showing well by spring then No. Because you'll be working on her 5 days a week and paying her bills and as a green, grade first season show pony she'll maybe be worth 1200.

3 years from now, with consistent showing and training she could turn out to be worth $5,000. But, would you regain your investment in board and time? No.

However, if you like the horse, get her and train her. Treat it like a hobby, not a business, and you'll enjoy it and create a nice little horse.

But is it Worth It in a business sense? No.

Where I come from, a grand is not a lot of money for a green broke pony, even if it isn't a purebred or papered. An unregistered horse or pony that has good movement and a friendly temperament is worth a lot more than a purebred that is an average mover.

Yes, the pony may colic, but that could happen with a horse that you paid $10,000 for- there is no way to predict the future, but a well balanced diet and exercise program can help minimise the risk of colic. There is a chance that while jumping your horse or pony could stumble and break its leg, does that mean you will you give up jumping?

How long will it take to train her up, who knows? Who will be doing the training- a professional trainer who makes a living out of training, or yourself? The professional will take less time and will do a more efficient job of it. If you plan on training the pony yourself, do you have an instructor who can help you train the pony properly, who can help you when things aren't going so well?

It also depends on how smart the pony is- some learn new things far quicker than others, some are slower at learning. There is little way to know for sure until you start.

Over fences training? All horses and ponies are capable of jumping, however their natural jumping style may not always be to our liking which is why we interfere with the way they jump to make them jump the way we want them to, to get them in a 'correct' frame, to take off at a certain point, to shorten or lengthen their strides.

As you are uncertain that this pony is worth the money or time needed to bring on her training, perhaps she is not the right pony for you and you would be better off looking for a pony or horse whose training has been completed.

The comment about she could colic is pretty irrelevant, it's conditions that create most colic not the horse.

Assuming that you know how to train I would say it's worth it. Is the pony for you? If yes then what difference does it make on how long. You will be training that pony for it's entire life. If you are buying for training and then resale that is a different story because your money will be tied up for a while.

An ungaited, unregistered, untrained icelandic pony for h/j? $1,000?

Surely you jest. Half that at best.

eta: even if it takes only a month of pro training (unlikely!!) that's probably at least $700. I'd expect more like 3 months, then you have to keep her till show season starts. That's a whole lot of outlay for very little possible return. I'd pass even at free.