A leprechaun is a type of fairy

Fairy

A fairy is a type of mythical being or legendary creature, a form of spirit, often described as metaphysical, supernatural or preternatural.Fairies resemble various beings of other mythologies, though even folklore that uses the term...

 in Irish folklore

Irish mythology

The mythology of pre-Christian Ireland did not entirely survive the conversion to Christianity, but much of it was preserved, shorn of its religious meanings, in medieval Irish literature, which represents the most extensive and best preserved of all the branch and the Historical Cycle. There are...

, usually taking the form of an old man, clad in a red or green coat, who enjoys partaking in mischief. Like other fairy creatures, leprechauns have been linked to the Tuatha Dé Danann

Tuatha Dé Danann

The Tuatha Dé Danann are a race of people in Irish mythology. In the invasions tradition which begins with the Lebor Gabála Érenn, they are the fifth group to settle Ireland, conquering the island from the Fir Bolg....

 of Irish mythology. The Leprechauns spend all their time busily making shoes, and store away all their coins in a hidden pot of gold

Pot of Gold

"Pot of Gold" is the fifth and final single from Sengalese singer/songwriter Akon's debut studio album, Trouble. Released as a European only single, the song failed to chart significantly anywhere, peaking at #77 in the United Kingdom and at #95 in Germany. The single was not released in the United...

 at the end of the rainbow

Rainbow

A rainbow is an optical and meteorological phenomenon that causes a spectrum of light to appear in the sky when the Sun shines on to droplets of moisture in the Earth's atmosphere. It takes the form of a multicoloured arc...

. If ever captured by a human, the Leprechaun has the magical power to grant three wishes in exchange for their release.