Leprechauns are far and away the most recognizable of the Irish Fairies…some even refer to the Leprechaun as Ireland’s national fairy. Leprechauns appear as old, diminutive men who are shoemakers and bankers for other fairies. It is argued that the name Leprechaun derives from the Irish term for shoemaker (leith bhrogan).
Many Leprechauns drink to excess but never to the point of losing control of themselves. Leprechauns have long been associated with money often depicted along with the pot of gold at the end of the rainbow. One reason for this is that they seem to have an endless supply of money.
They are thought to always have a silver and a gold coin, each in a different pouch. When they part with the silver coin, it magically returns to their purse. When they part with the gold coin usually to bribe their way out of a difficult situation, the coin turns to leaves or ashes in the recipient’s pocket.
In addition to being shoemakers, Leprechauns are thought to be the bankers of the fairy world. Many believe they have found and hidden treasures lost by others. These treasures are buried in crocks and pots. Leprechauns are able to recall the exact location of these buried treasures.
These banker fairies are thought to have very dour dispositions and to avoid contact with humans because they consider humans to be shallow. They also worry that humans will steal their treasures.
Leprechauns are very hard to catch or see because they can move very quickly. If one is caught, he usually promises great wealth if allowed to go free. Once released, he quickly zips out of sight.
There seem to be two different types of Leprechaun’s the dour, banker type who wears green and avoids humans and the friendly type who dresses garishly and delights in making mischief for humans (some argue this latter fairy is not really a leprechaun but a close cousin who should be called a cluricaun). Banker fairies know all about money while cluricaun know nothing about money and have no knowledge of where treasures can be found.