1.  fairy story(n = noun.communication) fairy tale, fairytale - a story about fairies; told to amuse children;
is a kind of narration, narrative, story, tale

2.  fairy story(n = noun.communication) cock-and-bull story, fairy tale, fairytale, song and dance - an interesting but highly implausible story; often told as an excuse;
is a kind of fib, story, tale, taradiddle, tarradiddle

adventure story, bad fairy, blue story, cock-and-bull story, cover story, detective story, dirty story, fairy, fairy armadillo, fairy bell, fairy bluebird, fairy circle, fairy cup, fairy godmother, fairy lantern, fairy light, fairy ring, fairy shrimp, fairy swallow, fairy tale, fish story, funny story, ghost story, golden fairy lantern, good story, lead story, life story, love story, mystery story, news story, old story, shaggy dog story, short story, sob story, story, tall story, tooth fairy, war story, white fairy lantern