Liz at inweavefabric.com created this cute fairy outfit that could be used for a dance recital, play or just for fun. She used baby blue charmeuse satin for the body of the dress and silver ribbon for the edging. The skirt is made with the light blue sparkle glitter tulle which gives a fairy-dust feel. The wings also were made with the light blue sparkle glitter tulle and attached with velcro. The pattern is McCalls M4887, but you could use a variety of other patterns.
Other fabrics that you could use include crepe back satin or iridescent taffeta for the body. The crepe back satin is a little heavier than the charmeuse satin, and the iridescent taffeta has a more crisp hand the the satins. For the wings and the skirt, you could also use pearl organza, twinkle organza, tulle, metallic tissue, tissue lame', or two tone chiffon. These each have a different look and are all sheer fabrics that would flow nicely.