Ok...I'm no expert, but bear with me.
The first thing I notice is she has very upright pasterns and extremely small feet. This is a fairly large conformation fault, but also very common in Quarter Horses (which is what she is???). She doesn't have any halter lines behind her, does she? She also looks post-legged behind, but that often comes with upright pasterns, as well as toeing-out, but that could just be the photography. She could be a little over at the knee, but that could be her age. Her neck is set on a little low, but that shouldn't hamper her and is even desirable for some western events.
She has a lovely shoulder and quarters, and a very pretty head. She isn't camped out = good. I'm impressed with how level her topline is at this age, considering her breeding. And she has a very pretty head!
Can I just ask, would you ever consider breeding from her? And if so, will she be tested for frame?