Wouldn't it be neat to turn off a companions effect? Then you could have multiple companions be equipped to your dog just like any other accessory.

A lot of us have ice age companions or companions that bring us items every once in a while already equipped to are dogs, and are never shown. Its wasted space and should be used for all the other lovely companions are artists worked so hard on.

Maybe something to the effect of having a "Active" slot for one companion while the others are treated like an accessory.