O.E. fæger "beautiful, pleasant," from P.Gmc. *fagraz (cf. O.N. fagr, O.H.G. fagar "beautiful," Goth. fagrs "fit"), from PIE *fag-. The meaning in ref. to weather (c.1205) preserves the original sense (opposed to foul). Sense of "light complexioned" (1551) reflects tastes in beauty; sense of "free from bias" (c.1340) evolved from another early meaning, "morally pure, unblemished" (c.1175). The sporting senses (fair ball, fair catch etc.) began in 1856. Fair play is from 1595; fair and square is from 1604. Fair-haired in the fig. sense of "darling, favorite" is from 1909. Fairly in the sense of "somewhat" is from 1805; it earlier meant "totally." Fairway (1584) originally meant "navigational channel of a river;" golfing sense is from 1910. First record of fair-weather friends is from 1736.
c.1330, from Anglo-Fr. feyre (1292), from O.Fr. feire, from V.L. *feria "holiday, market fair," from L. feriæ "religious festival, holiday" (see feast). http://www.etymonline.com/index.php?search=fa...
c.1300, "enchantment, magic," from O.Fr. faerie "land of fairies, meeting of fairies, enchantment, magic," from fae "fay," from L. fata (pl.) "the Fates." In ref. to a class of supernatural beings, the word is used from 1393. The slang meaning "effeminate male homosexual" is first recorded 1895. Fairy tale "oral narrative centered on magical tests, quests, and transformations" (1749) translates Fr. Conte de feés of Madame d'Aulnois (1698, translated into Eng. 1699). Fairy ring is from 1599. Fossil sea urchins found on the Eng. downlands were called fairy loaves.