So after months of work (I really have no idea how much time I have invested in this, but I'm sure it would add up to quite a while) here she is, Pinkamena (AKA crazy Pinkie Pie from the My Little Pony: Friendship is Magic episode Party of One) carved in alabaster stone. The pics really don't do the rock justice, which is filled with many beautiful lines and inclusions.
This was my first attempt at sculpting stone, and although it's not perfect, I am very pleased with the results. The rock I started with weighed about eight pounds. Now it is down to about 2.5 pounds and stands about 4 3/4 inches tall. To carve her I used a number of tools including a hammer and chisel, rasps, rifflers, diamond files, and sandpaper for finishing (before polishing).
I left the raised eyelashes and parts of the eyes a bit rough so they would stand out better. I also had to make the mane curve around her head a bit instead of hanging straight down due to imperfections in the stone. The muzzle is smaller than I originally intended it to be because I didn't like the way the mouth was originally coming out (I'm still not entirely satisfied with it) and the only way to fix it was to shave off all the area around it. Overall, this has been a good learning experience.
To give you an idea of the hardness, alabaster has a hardness of about 1.5-2, compared to soapstone which has a hardness of about 1, or marble, which has a hardness of about 3.5 or so.
I have more stone which I intend to carve eventually, but I'm pretty busy now so I'm not sure when that might get done. Maybe not for quite a while.
Edit: Wow, featured on the front page of Equestria Daily. Thanks guys.