I just started watching Adventure Time! So far, I've watched the pilot (holy crap, low production value!), and the first episode. That was yesterday or two days ago. Now, you remind me to watch another episode or two! The pilot episode introduced to me the Penguins and Princess, and ice & flying powers, which all of these abilities have. Looks like you represented him well! I like how he's red despite being an ice king. It's pretty neat.
He needed to be red, as he is much more passion than intelligence. Ice is represented in red in the Kamigawa block, so it's not too much of a stretch. Also: this block would have a TON of Princesses.
As part of the two episodes I ended up watching, I got to see the Ice King being fervent on marrying one of the multiple princesses he kidnapped! I get you, Adam!