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1. A Comical misspelling of Fairly, which results in an unexpected yet comical self-reference.

2. A group or classification of types of fail.

The comical fact of point 1 is of course, that the act of misspelling "Fairly" is in fact, a form of failry in itself, causing a linguistic cycle, somewhat akin to that of the definition of recursion
1. That was failry awful.

2. This course involves all sorts of failry.

Joke example using the word in both contexts: There's a failry large amount of failry going on here.
failry by firepup August 23, 2009
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bucket fairy 

a derogatory term for a firefighter/emt
(plural - bucket fairies)
(Upon hearing or seeing an approaching fire engine...) "Here comes the bucket fairy brigade!"

fire fairy

My house burned down because the fire fairy (ies) got here 10 minutes after it burned down
fire fairy by Dibbjr October 31, 2009

Fairy Of Shampoo 

A fairy of shampoo is a person who would make you no longer feel lonely just by seeing them. Even if you’re with your sad heart, they make it disappear far away.
Person A: Who’s your fairy of shampoo?
Person B: Soobin<3

Internet fairy 

A person who searches the Internet for things that they like, comments on them in a positive way, and praises people for posting things that the fairy likes. An Internet fairy is the opposite of an Internet troll.
An Internet fairy totally bombarded my Facebook post with enthusiastic and uplifting comments

Fuckery Fairy 

When you wake up the next day and have found dumb shit posted on your Facebook page.
Girl, I woke up and checked my Facebook page. How about this dude posted a video of turtles getting their freak on?

I saw that shit! I was visited by the fuckery fairy too! *smmfh*
Fuckery Fairy by funny bish January 18, 2010

fairy tail syndrome 

When you watch fairy tail and notice that everyone in the guild is so nice and friendly to each other, leaving you depressed and questioning whether or not you have any real friends.
I'm getting a serious case of fairy tail syndrome because of the powerful themes of friendship in that show.