The horse tells the donkey he races on the flat in the summer and steeplechases in the winter, the donkey tells the horse he gives kids rides on Blackpool beach in the summer, and has the winter off.
It gets to closing time and the horse invites everyone back to his place for a party. They go back to the horses gaff, and all around the walls, the trophy cabinets full and there are pictures of the horse winning the Grand National, Derby, the Guineas, the Oaks and so on.
It was a great party, but feeling a little inferior the Donkey invites everyone round to his place the following weekend.
The donkey thinks "I need to impress this horse - he's done everything" so he buys a big picture of a zebra and hangs it above the fireplace.
The horse arrives and says "Lovely place you have here and who's that in the picture on the wall?"
- Spoiler: show
to both of those above 
