The fact that Ravenwaves' plan is to cut her rival's hair is pretty funny.
The first episode has Ravenwaves threaten Lady while she's riding Silkymane the horse. When Strongheart steals her scissors, Ravenwaves leaps off the horse to chase him... then realizes what she just did. Lady immediately escapes.
"Cruel Pretender" and "Vanished" have Hairball and Ravenwaves, respectively, gloat dramatically over cutting Lady's hair, which ends up foiling Ravenwaves' plans when they take too long to actually cut it.
"The Wishing Bone" has Hairball actually come up with a good evil plan, surprising Ravenwaves.
Hairball: Why don't we grab [Strongheart] now? Ravenwaves: What do I care about that mutt? Hairball: The wizard cares about him, and Lady cares about the wizard! Hahaha! Ravenwaves: Hairball, are you feeling ill? Hairball: No. Why? Ravenwaves: You're actually starting to make sense!
This show, like most 80's properties, had one of those things where if you sent in your name, a picture of yourself and some money, you would receive a "personalized" video where you would "help" (so to speak) the character on their adventure. Gene Siskel caught wind of this and featured it on Siskel and Ebert's annual Holiday Gift Guide episode. It must be seen to be believed, with the contrast between live-action Gene Siskel and the kid's voice they used being the funniest part.
"That's why I got the tape, so I could go home, right?"