Why is leprechaun and fairy legends are important in British folklore?

The leprechaun is perhaps one of the best-known creatures in Irish folklore. Leprechauns are popularly depicted as little men with beards dressed in green coats and tall green hats. Other well-known beliefs about leprechauns include the pot of gold that they are said to keep at the end of the rainbow, and their mischievous nature. Whilst many are familiar with this general depiction of the leprechaun, there are other aspects of these Irish creatures that are less well-known.  

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