* Fairies are real: He insists that they exist and are all around them, even if humans can't see them.
* They're tiny: He describes them as being smaller than a thumb, with delicate wings and beautiful, iridescent colors.
* They like sugar: He mentions that fairies are very fond of sugar and that they love to dance in moonlight.
* They can be dangerous: He warns Wendy to be careful around them, as some fairies can be mischievous and even dangerous.
* They can grant wishes: He suggests that if you are kind to them, fairies might grant your wishes.
These are just some of the things Peter Pan shares with Wendy about fairies. He seems to have a lot of knowledge about them, suggesting that he has lived among them for a long time.