In Irish folklore, leprechauns are solitary, mischievous fairies, often depicted as tiny old men who make shoes and possess hidden pots of gold, with the legend that if caught, they might reveal the location of their treasure in exchange for their freedom. Leprechaun legends have been around in Ireland for at least 1000 years. They stem from the Celtic belief in the Otherworld, a mythical place where magic powers can be used for good or evil. Leprechauns are solitary fairies. They prefer their o