Today's popular image of a fairy costume is that of of a white costume with delicate wings and possibly a wand, if you are going for the Tinkerbell costume look. The reality is that fairies and their costumes come in all shapes and sizes, and there is a huge variety of fairy costumes, and would easily be possible to have a fancy dress party based on a fairy and elf theme.
Tinkerbell costumes are some of the most popular of the fairy costumes, for those of you don't know, Tinkerbell comes from the Peter Pan book written by J.M. Barrie. In the story, Tinkerbell is generally kind to peter pan, but she can also be a mean and vindictive fairy. This almost duel personality is said to be because of Tinkerbell's small size and this stops her from holding more than one feeling at a time. A Tinkerbell costume is usually green in colour, she has wings and often a wand as well.
For more check out my post on Tinkerbell Costumes
Fairy Halloween Costumes
As mentioned above, fairies are not always good and therefore why not try something different for Halloween by choosing a Fairy Halloween Costume, there is actually a pretty big selection of dark fairy costumes available. It is even said that When God banished a bunch of angels from heaven, those that were really bad, went to hell and became devils and those that were caught in between heaven and hell became fairies. With this in mind there are fairy costumes like the Evil Fairy Costume, the Dark Sexy Fairy Costume and even a red devil Tinker bell costume called Tinkerhell!
Some more ideas for your fairy fancy dress costumes:
Fairy Godmother Costume
Tooth Fairy Costume
Check out this fairy costume page for more ideas