Well they're not the best games on this site, but they are really good games. Also, you can't even compare thse two because Fancy Pants 2 is just a huge improvement from the first one. The second one is so much better, and it's way ahead of the first one's league!
My favourite was the second one. I didn't like the fact that the first one was really slow, and that there weren't as many things to do. I beat the game in 173 seconds (kongregate achievement).
The second one has a lot more options included, such as "colour changing goodness".