Weird Neck Problem on G2 Pony

[Glistening Rainlight]

So I recently acquired Lady Moonshine, my 2nd proper G2 pony, and she's an absolute beauty~ For the most part she seems to be in really good condition. She's one of the types who's leg moves when you turn her head and vice versa. So a Magic Motion pony, if I'm not mistaken, though she isn't specifically listed as such it seems.
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The trouble is, her neck is.... extended might be the right word to use?
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Is this is a known problem, and is there is a known way to fix this? I've looked around and it doesn't seem like this is the standard for these toys, probably something that happened while the previous owner had her.