This eight-legged horse is the legendary steed of Norse Allfather of the Gods Odin. It is also the child of Loki (which may go some way towards explaining how Thor could have thought he had given birth to a squirrel).
This piece of sideshow history was famous in its day, touring with the Barnum & Bailey Circus for two decades. In reality, the mermaid consisted of half a monkey sewn onto half a fish and then preserved.
The origins of the fairy are not known. Some say they are the angels who refused to take a side in the battle between God and Lucifer. Their moral code is certainly very different to that of humans, and these insect-winged sprites can either help or hassle.