Morgana, an ex-lover of Hercules, lures away Pegasus with a means to gain revenge on Hercules. Here's "Pegasus' Odyssey":
The fact that Morgana is a sorceress would suggest she was an analogue for Merlin's ancient foe, Morgaine (or Morgana) Le Fey. Too bad there were only 5 of these shorts, as this merited a sequel and some further backstory. Worse, production ceased after the first season on Tarzan & The Super Seven.