Alela, leader of the Flash and Faerie Tribe (actual deck) (EDH / Commander)

Potential cards to add:

Ophidian Eye
Counterspell
Filter Out
Skullclamp (maybe sacrificing Faerie tokens is to costly and curiosity is just better)
Wavebreak Hippocamp (other draw effects seem stronger)
Asinine Antics

Faeries:
Mistbind Clique
Faerie Harbinger
Moonshae Pixie
Faerie Mastermind
Oona' Blackguard (Rogue tokens make player discard, can be very good)

Token makers:
Bitterblossom
Instruments of War
Favorable Winds

Cut Candidates:
Quickling (bringing a Faerie back to your hand can serve as protection or play adventure spells, but it is bad on an empty board)
Faerie Seer (low impact Faerie)
Puppeteer Clique (very situational and reactive play)
Blightwing Bandit (no flash, same mana value as commander, drawing cards from opponents library is underwhelming)
Fact or Fiction (maybe Moonshae Pixie can fill the need of this draw spell better) (or maybe Fact or Fiction is better)
Thirst for Discovery (generic card for digging for cards)
spellscorn coven (spell bounce is good, but overall spending 4 mana on a 2/3 non-flash faerie isn't so great)
Nettling Nuisance (making 4/2 pirates at a certain point probably won't matter much, but card has to be play tested)
Faerie Bladecrafter (making a big Faerie that can block, and then also can regenerate life seems good, but no flash)
Oona, Queen of the Fae Probably great token maker, but comes down very late, making many faeries turn 7)

Faerie Formation (a cheaper Version of Oona that makes Faeries less efficiently and draws cards poorly)

unsure:
perplexing test (bounce all non-token creatures, make a Fairie, seems not bad, but playtesting needed)
nightmare unmaking (could be a selective board wipe for 5 mana, seems not bad)
Tegwyll's scouring (6 mana flash board wipe, opponents can overcommit and make 3 Faries doesn't seem bad)
Skull Clamp (this seems like an ideal deck for skullclamp, but maybe sacrificing faeries is to costly, as they are needed on the battlefield)
Fact or Fiction (is a good card and makes a Faerie)

Raise the Draugr (very reactive, probably not a good card)

Strong cards but do they fit the core strategy?:

Reflections of Littjara (comes down very late, playtesting needed)
Sower of Temptation -> keep, watered down version of gilded drake and a Faerie

Cuts:
Blightwing Bandit -> Mistbind Clique
Faerie Seer -> Bitterblossom
Qickling -> Faerie Mastermind
Spellscorn Coven -> Moonshine Pixie
Pupeteer Clique ->Vendilion Clique
Nettling Nuisance -> Oona's Blackguard
Raise the Draugr -> Faerie Harbinger
(Faerie Formation -> Spellscorn Coven -> Stolen by the Fae)
Misleading Signpost -> Kindred Discovery
Nightmare Unmaking -> Asinine Antics
Frantic Search -> Counterspell
Thirst for Discovery -> Filter Out
(Reflections of Littjara -> instruments of war)
Midnight Clock -> Favorable Winds

(Tegwyll's scouring -> Nightmare unmaking)
( -> Thoughtvessel)
Island -> Reliquary Tower
(hypnotic sprite ->Spellstutter Sprite)
(keep watch -> bident of Thassa)
( Snap -> mystic subdual)
aqueous form -> Faerie Slumberparty
spellscorn coven -> keep watch
Oona, quen of the Fae -> Notorious throng
Reckless spite -> infernal grasp
reflections of littjara -> Grim Hireling
wayfarer's bauble -> sky diamond
minion's return -> aqueous form
Ray of frost -> eaten by piranhas
Faerie Slumberparty -> Elbrus, binding blade
Swamp -> Westvale Abbey