The parents of the 17-year-old girl killed during an equestrian competition say they were blessed to share their love of horses with their daughter, as Equestrian Australia announced the steed that fatally crushed the teenager was put down.

Charlotte and Arthur Inglis, of the renowned Inglis horse breeding dynasty, said they had been overwhelmed by the kindness and sympathy from the equestrian, thoroughbred and Olivia's school community following the loss of their eldest daughter on Sunday.

The Inglises witnessed their daughter's death when Olivia's horse tripped and fell during a jump at the Scone Horse Trials in the Upper Hunter region, fatally crushing her.

"We are so proud of Olivia and the beautiful young woman she was in every way. We are blessed to have had the opportunity to share our passion for horses with our children," Mr and Ms Inglis said in a statement on Wednesday.

"This has led us on a great journey where we have been able to spend countless happy moments and special family times. So much to celebrate and a life so joyous and well lived," the statement read.

"On behalf of the Board of Directors, company shareholders, staff and the entire thoroughbred community, our thoughts are with Arthur and Charlotte and their girls after the tragic passing of their lovely daughter Olivia," said Inglis managing director Mark Webster.

The statement issued by Inglis also broke the news that the horse that crushed Olivia had sustained significant injuries from the fall and had to be put down.

"Unfortunately, Olivia's much loved horse Coriolanus has suffered injuries much worse than originally reported," a spokesperson for Inglis said in a statement.

Following advice from Scone Equine Hospital, Coriolanus was euthanised just after 5pm, they said.

On Tuesday, organisers of the Scone Horse Trials said Coriolanus was being treated for muscle soreness & minor skin abrasions.

"He is grazing in a yard & is bright & comfortable. He is being treated for muscle soreness & minor skin abrasions," they posted on their Facebook page.

"X-rays revealed he was suffering from a displaced fracture in his neck," the Inglis spokesperson said in their statement.

"He was a talented competitor and loved family member and will be sadly missed," they said.

As tributes to the talented young teenager continue to flow on Facebook, the hashtag #rideforolivia was used by her fellow riders to share images of themselves and their horses.

Local riding industry businesses who supported the hashtag said they planned to use the images to create a mosaic that would form a composite image of Olivia to give to the Inglis family.

On Tuesday, a photoshopped image of the 17-year-old riding through the clouds was shared widely on Facebook. The image was captioned "fly free fly high".

A funeral service for Olivia will be held on Monday morning at St Judes church in Randwick.