The myths and legends about Faerie are many and diverse, and often contradictory.
Only one thing is certain, that nothing is certain. All things are possible in the land of Faerie.

The mystery of Faerie has been, from the earliest time a favorite subject on
what humans like to speculate. What are faeries? Where did they come from?

Norse mythology relates how the maggots emerging from the corpse of the
giant Ymir transformed themselves into Light Elves and the Dark Elves.
Light Elves, living in the air, are benign, happy creatures, but the Dark Elves,
whose domains are the underground regions, are evil and blighting.

The Icelandic version, on the other hand, states that Eve was washing all
her children by the river when God spoke to her. In her awe and fear
she hid those children she had not washed. God asked if all her children were
there and she replied that they were. He then declared that those she had
hidden from him would be hidden from man. These children became the elves
or faeries and were known as Huldre Folk in the Scandinavian countries.
Huldre girls are exceptionally beautiful, but with long cows tails; or else
they are hollow behind, presenting only a beautiful front.
Thus they fulfill the deception of their origin.

Elsewhere faeries are believed to be fallen angels; or the heathen
dead, not good enough for Heaven, but not evil enough to
find a place in Hell. Compelled to live forever in between
the twilight regions, the Middle Kingdom. In Devon for instance
pixies are considered to be the souls of un-baptized children. However, these
beliefs stem only from the advent of Christianity, baptism being unknown
prior to that time, and hence cannot be regarded as reliable. Faerie is very
ancient and predates Christianity by several millennia. Moreover it exist,
and has existed, in varying forms, in many countries all over the world.

People who are not familiar with the world of Faeries ask me all the time ...
didn't you misspell that? So here is what I answer them.
The word faerie come from the French and started to replace
the Old English elf during the Tudor period. Spenser and Shakespeare
popularized the change. Elfland and faerieland elf and faerie
were and are still interchangeable words. The spellings of faerie are
numerous: Fayerye, Fairye, Fayre, faerie, Faery, fairy.