Hey,
There are some threads about either using Potion of Illusion to transform into the Sandstone Drake or using it to fly as, for example, a gnome through the air (See other threads).
There are two possible buffs/debuffs from the Potion of Illusion, one transforms into a random NPC, the other transforms you into the nearest player.
Using the second transformation results in not being able to mount anymore:
However this can be worked around by first transforming into something that is able to mount up (During Winter's Veil, this can be the gnome transformation). Thereafter you use the Potion of Illusion near the character you want to transform in and mount up:
As you can see, I have the gnome buff, the Potion of Illusion buff and the mounted buff.
Afterwards, cancel the gnome buff and you are mounted as the character you transformed into, no matter what the character was:
(Funny thing is, my Invincible turned transparent when mounted as a Ghost Wolf)
On a note: I asked several people what I look like, they said I'm a dragon on Invincible, so this appears for everyone, not just for oneself.
Edit: Also works when transforming from Blood Elf to Blood Elf (meaning: I didn't change at all) with Orb of the Sin'dorei