High Quality Content by WIKIPEDIA articles! A fairy tale is a type of short story that typically features such folkloric characters, such as fairies, goblins, elves, trolls, dwarves, giants or gnomes, and usually magic or enchantments. However, only a small number of the stories refer to fairies. The stories may nonetheless be distinguished from other folk narratives such as legends (which generally involve belief in the veracity of the events described) and explicitly moral tales, including beast fables.