The horses have been recovered this afternoon.
They had apparently made their way onto a neighbor's property where they were penned until the rightful owners could be located.
The family says they are very happy to have them back.
The police and family now believe the animals managed to get away on their own.
Inez Sears says her 35-year-old horse Reno and a 5-year-old pony were taken some time Thursday night.
Sears had purchased the pony for her niece last month, and had owned the older horse for many years.
If anyone has any information, you are asked to contact the Greers Ferry Police Department at (501) 825-7172 or the Cleburne County Sheriff's Office at (501) 362-8143.