The fairies
Did you know that the "Wee Folk" or our "Good Neighbors" don't like to be called "Faeries"? "Fairy" has been mis-used throughout history by the English speaking human folk. It is believed that the word "fairy" is a late term, being that after the middle ages was equated with the meaning of mortal women who had magical powers.
"Fairy" originally meant "fai-erie" - as "state of enchantment and that was transferred from the object to the agent." The faerie are a "wee people" who carry great power and prestige, particularly in the Celtic and Irish lands. Of Irish descent, faeries are the descendants of the original Irish, the Tuatha de Danaan.
They are most properly referred to as the "Daoine Sidhe" or the "Sidhe" (pronounced "Shee") in Ireland, the "Sith" in the Highlands, the "pisgies" in Cornwall, and the "elves" in Scotland/ England. According to some researchers, the best english term for these people we encounter, regardless of ethnicity, is "Elf".
"Elves" are airy spirits of nature, who love carefree dancing and playing of stringed instruments. "They also can live underground, in/on water, in the air, and most have wings).
As to the question of whether or not fairies exist, all you need to do is ask an Irish person who would simply reply, "I don't believe in fairies, but they're there." Many Christians believe them to be angels who revolted in heaven and were thrown out - and since they were not bad enough for hell, they were sent to live forever on the Earth and that is why they can act so angelic or devilish. Many believe the artistic portrayal of fairies with wings is by Christianity's merging of them with angels.
The Tree or rock down the road named "Fred" or "Krystal" was part of the common folk's everyday lives. So too were the "Good Folk". They were addressed by name and played a great role in everyone's lives. But this was a time when everyone believed in multiple Gods, Goddesses, spirits, ancestors, and beings. In today's time and age, if one claims to believe in fairies they are often sent to a shrink.
"So if they exist, why can't we see them?" is the question that is probably running through your mind at this very moment. Since they are "nature spirits", are happy, sad, mad, glad, spritely, vengeful, morose, friendly, loving, and hating as is "nature herself" - they take many different forms as do the energies of the Earth Mother - "Warmth, storm, earthquake, glimmers, serenity, peace, or destruction."
Those in tune with the magical energies of the web of life can also see them very easily, such individuals are usually poets, seers, musicians, healers, clairvoyants, and naturalists. Hallucinogenic and poisonous drugs, magic rites, and altered states have also allowed many human folk to see them. It is believed though that the main pre-requisite for relations with them is to have an emotional affinity or a "blood relationship" with them. Relationships with them are supposedly very difficult to maintain, especially sexual relations, and both are usually bound by great numbers of taboos.