Charismatic power, magical influence over mundane objects, his jacket and bike are totems of power, ageless, love of mischief, unexplained origins, only follows his own rules, unnatural luck, ethereal confidence.
They do have different uses, as well as "flavours".
E.g. if you end up in fairyland, you'd likely expect something more child friendly and whimsical. If you end up in the land of the fey, that's a far scarier prospect.
It's also akin to having different words for dwarf, elf, orc, and human. They are all big, with 2 legs, 2 arms and a head on top.
Mythology also has worms, wurms, or, in some cases, wyrms. All pronounced the same, but they tend to get bigger the further down the alphabet the vowel gets.
Calling them by their proper name draws their attention, and they are horribly violent, terrible creatures with no empathy or morals. None of those spellings are "correct" for this reason.
A bit hairier, and not quite as dainty as we'd in mind for the Neverland role. But as you're the only one to answer cast-call, Mr. McBoatface, let's give it a go, shall we?
Could be quirky, ensouled commuter boats (think the boat from Windwaker), could be that that they are Navi-like sprites or winged humanoids... but they always lead you somewhere, help you cross a threshold of some kind.
It does sometimes feel a bit pretentious. Like, no no, these pocket-sized humans with wings and fairy sparkle dust, they're not fairies. They're actually farfalles, because they've got a heavy Italian accent, you see.
I guess, when everyone does it, then it isn't actually pretentious anymore, but yeah, still a bit close for comfort...