I thought it might be interesting to start a thread on painting horses and I hope others will add their thoughts and paint recipes with pictures of what they have created.
Here are a chestnut and a light bay. The oil paints used for both are a base of Venetian red, chrome yellow and white. Highlights have more chrome yellow and white and darker shades for shadows have burnt umber and black added.
Note that the bay needs a black mane and tail, edges of the ears and lower legs to be a bay, although white leg markings are permissible.
Where horses have white socks the hooves are usually of a lighter colour (look at photos on the internet for colours).
Eyes are depicted as plain black with no white showing although sometimes I add a highlight of grey.