This screenshot was edited so that the ashes were replaced with a TV. The second pane shows a sad image, usually from a movie, TV show or video game. Notable ones include Mufasa's death in The Lion King, the incineration of the Companion Cube from Portal and seeing Doctor Whoof regenerate.
Other variations include other characters from the series watching things, such as Twilight Sparkle watching "nerdy" things, Pinkie Pie watching crazy things (while in a straitjacket) and Steven Magnet watching stereotypically homosexual things. There is also a variation where, instead of holding a TV, Fluttershy or another character is holding a videogame controller, and is either playing or watching a videogame of some sort.