It's an interesting idea. After all, we only have one small race to choose.

However, it would require a tremendous amount of work to adapt all of the existing gear for them to wear. Unless, of course, the devs take the route that gear are invisible on fairies, with the exception of certain gear especially made for them.

Let's see... they would be need to be less luminous than Eos or Selene so you could make out their character model better. The race could be androgynous like lalafell, meaning the male & female bodies would share the same model. There would need to be different hairstyles for boys and girls; as well as, different facial options. Yes, I can see this working. I'd like to see fairie added to the game.