fairy. n, pl fairies. 1. an imaginary supernatural being, usually represented in diminutive human form and characterized as clever, playful, and having magical powers. 2. a male homosexual. 3. away with the fairies out of touch with reality.adj (prenominal). 4. of or relating to a fairy or fairies.n imaginary creature in the form of a very small (often winged) human, with magical powers. Children often believe in fairies; (also adjective) fairy-land.