Children's, Intermediate and Advanced Online English Dictionary & Thesaurus

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fairy tale a fictitious, sometimes incredible, imaginative story, often involving giants, ogres, elves, or other magical creatures and characters. [2 definitions]
folk tale a story of anonymous authorship, passed on orally by the common people of a region or country, and often incorporating the myths and legends of that people, or including a moral.
old wives' tale a superstition, usu. embodied as a folk tale or bit of folk wisdom.