From BrWiki
Faerie folk is an archaic name used for dwarves, elves, and all manner of magical humanoids such as pixies, sprites and the like.
The term was also applied to certain inhabitants of the Shadow World when it was still known as the Spirit World, some of these, such as halflings have since emigrated to Cerilia (although many remain, it is said, in the Shadow World where they lead bitter lives as slaves to ancient sorcerers and dread beasts).
Many Cerilian scholars use the term to refer to the
Seelie and
Unseelie - immortal
fey inhabitants of the Shadow World with powerful
magic and a whimsical nature.