If you simply want a review of this phrase as a potential title or concept:
7/10 The title feels whimsical and evocative, suggesting a short, allegorical story centered on a small horse—perhaps a fable about humility, hidden strength, or a journey. The use of “-ellum” adds a rare, learned charm, as if from a neo-Latin bestiary.
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If you intended a specific book, game, or artistic work titled Equellum Fabula , please share its author or context, and I will write a detailed review based on that.