Are they in the last holes in the leathers? Is there room to punch a couple more holes above the last ones? In almost all my saddles, I have had to punch more holes in the leathers to get them to fit my legs.
Also, you should be able to adjust how the bottom of the fender hangs around your stirrup. If you look underneath the fender, there is the leather where the Blevins buckle is at. You can pull on the strap with holes and that should cause the entire leather to shift around the tree, shortening the fender and lengthening the leather. Here is a decent video that describes what I'm talking about.
However, if they are still too long, you can buy fenders/leathers by themselves and replace the ones on your saddle with smaller ones. Since your saddle is decorated with the silver nubs, you likely wouldn't find a pair that would match exactly without having them custom made, but I would think a pair of regular black fenders in either youth or barrel size would fit you much better. Here
is a site that I found while just doing a google search.
It isn't terribly unsafe to ride without your stirrups unless you have a horse that acts silly often. However, it still isn't ideal. With the stirrups just hanging loose when you ride, they will bump the horse in the sides, sometimes cueing for something you didn't want, and they can also be in the way of your position.