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Water Strider!
The environment throughout the whole continent.
I like the rare spawn hunting and treasure hunting, need me that Relic Hunter title. >:3
Dailies, factions and zones. That are fantastic! And the music is so beautiful! I really love this expansion. The best one, so far!
All the new mounts are pretty cool.
Favorite part of MoP you ask?Running old instances and AoE looting. Also levelin' up those new pets. Gotta catch 'em all!
Pet battles !
Pet battles, love it, I just love being able to do more with my pets now xD
The new dungeons, as short as WotLK with the flare of BC and Vanilla.
The veiled stair :D specially the black market
I think my favorite part of Mists of Pandaria so far are the Farmer Yoon's grounds. I find it very useful to be able to get 16 Mote of Harmony a day. Oh! And the cloud serpents are awesome too! Oh! And the monk's Zen Flight form, and the new raids, and... I think I'm gonna stop now... :-)
I really enjoy the story in Pandaria. AOE looting has also been a blessing :D
The quests / lore. The environment. Aoe Looting is a great improvement. And pandas are cute ! xD
My favorite thing about MoP so far is all the fluff items! Other than that the leveling experience comes in at a very close second!