Dozy I am not sure of the answer to your question, since where I live here in North America you are more likely to meet wood sprites, but maybe it has something to do with rainbows?
Hi Didge, well no to the crocks of gold ... you see these little folk I really do think they are around...in my experience what they are interested in is the forest...they care for it, that kind of thing...
You prolly have some wood sprites/or outback sprites in Oz, being quite a mythical land...maybe some cousins by a different name...?