Doing a bit of light reading about fairies, I found this painting on Wikipedia.
It was painted in the 19th century, and I had certainly not seen it before I drew this simple picture for my Fairies coloring book.
I'm sure a Jungian or a depth psychologist could come up with a lot of fun theory about our universal recognition of forming a circle for no particular reason, or for fun, to play a game such as "Run Sheep Run" or "Ring Around the Rosy." The fairies in the painting (the painter calls them "elves," a notion that was interchangeable with fairies in the earliest available lore), look like they might be playing "Go In and Out the Window," another simple circle game we used to play as children.
Actually, they are probably writhing in misery or enacting a sinister ritual, since fairies were originally associated with various spooky fears. The playful fairies ushered into our modern consciousness by Tinker Belle, are a happier and much more upbeat community of imaginary characters. To me, the emphasis is on "imaginary." Coloring fairies is an activity that is completely fanciful. They can be any color, and assisted by their magical powers, they can do anything they please. Mine are playful and busy but not mischievous. It's one of the advantages of the 21st Century mindset.