In this article, we prove a categorical equivalence between proper formal orbifold curves and proper orbifold curves in the sense of Deligne-Mumford stacks. Using this identification, we define the notion of P-(semi)stability of vector bundles on proper formal orbifold curves (X, P). Finally, we show that the pullback of a P-stable vector bundle under a morphism f : (Y, Q) −→ (X, P) between two formal orbifold curves is Q-stable if and only if the underlying finite cover f : Y −→ X is genuinely ramified.