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2.
A woman who hangs with gay men.The term "fag hag" or "homo honey" just doesn't cut it.
"Hi guys, here comes your fairy princess.Let's shop!"
by Melissap January 30, 2007
 
1.
A female, usually heterosexual, who likes to hang out with gay men and/or who has a large number of gay male friends. Many fairy princesses also have good gaydar. This is a synonym for fag hag but whereas fag hag can apply to women of all ages, fairy princess is usually reserved for younger women.
I'm such a fairy princess. I think the only friends worth having are gay men.
by Pregolegs August 19, 2006
 
3.
The daughter of two gay men.
guy 1 - "yeah, how are her father's doing?"
guy 2 - "wait, she's a fairy princess?!"
by brenden michael peters December 08, 2010