Fairy

Cast by Fairy Bell. It uses 40 mana when summoned, but may be cast when the player has less (20 or 0).

The Fairy is randomly colored, and may be blue, green or red. It is also faster, and brighter, than the orb summoned by the Orb of Light.

While a valid light source, it will probably be more time consuming to wait on the Fairy to catch up than it would be to just hold shift and view the area with a Torch, or place one down, given their relative easiness to acquire.

Trivia

 * The fairy is most likely a reference to Nintendo's The Legend of Zelda series. The three color fairies represent the three goddesses of the series.  Farore is green, Nayru is blue, and Din is red.