In My Little Pony: Friendship Is Magic Fanfic Progress, Princess Luna ends up mortified of baseballs after getting hit in the face by every last foul ball in a baseball game due to a spell gone hilariously wrong. Some time later, she watched Cupcakesnote An infamous Dark Fic about Pinkie Pie brutally torturing, murdering and baking Rainbow Dash on tv, and becomes terrified of all things pink as well. Though she manages to get over that one in time to hang with Pinkie Pie later.
Similar to the above, Delilah from The Legend of Spyro: A New Dawn is deathly afraid of cupcakes after the "Cupcakes Incident", which apparently involved a run in with the Cupcakes version of Pinkie Pie (Delilah is a Dimensional Traveller). Though it doesn't come up in that fanfic, since cupcakes don't exist in the universe it takes place in, a letter she gets from Pinkie Pie (the real one, who she's best friends with) tells her to call ahead before she visits so her friends won't have them at a surprise party due to her phobia.
Rarity's character arc in the Pony POV Series involves getting over the phobia of gems she'd gotten from Discord's Mind Rape of her. Many other ponies throughout Equestria got similar phobias as a result of their own Mind Rapes, including Prince Blueblood being terrified of the sun, Big Macintosh is terrified of the family dog, Sweetie Belle is scared of her dolls, etc.
The One and OnlyTrixie is revealed to have a crippling fear of Ursas after the Ursa Minor incident in Ponyville. This, rather embarrassingly, rears its head when they encounter two cute, teddybear-sized ones who'd be "fixed" by Princess Gaia's Reality Warping. It scares her so badly that it takes Pinkie Pie singing her a rendition of "Giggle At The Ghosties" to calm her down. Understandably, the others don't laugh or mock her about it, as they know and understand why it scares her so badly.
In Renegade, Shepard has a specific fear of the alien Scrin, and for good reason: she's the sole survivor of the Scrin assault on Akuze, and got an up-close and personal encounter with Buzzers that left her horribly scarred. When the Scrin attack the GDI Embassy on the Citadel, her reaction to close-quarters combat is to go from her normally controlled and unflappable demeanor to shouting and screaming at them.
There's a whole assortment of fears in Never Fear the Shadows. Harry's dad was afraid of water, his mother of clowns, Remus of moths and Sirius of being locked up, while Harry himself was afraid of loud noises, with good reason.
It's speculated by some that whoever's running The Infinite Loops deliberately invoke this trope for some reason. In universe, it's probably to help treat Anchors so they aren't as metaphysically unstable. Out of universe, it's just hilarious.
In Boys Und Sensha-do, as a result of his father's death in a landing accident, Akio starts hyperventilating when he even gets on a plane, which essentially makes it impossible for him to do Sentoki-do, the dogfighting sport the rest of his family does.