Fairy

Fairy is a buff cast by the Fairy Bell, which takes the form of a light-providing "fairy" that follows the player. It uses no mana when summoned. The Fairy is randomly colored, and may be blue, green or red. It is also faster and brighter than the orb summoned by the Shadow Orb.

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. The fairy may resemble Navi or Tatl, faries from Ocarina of Time and Majora's Mask, that follow you in-game.

History
It has a 5 minute duration.