Those of us outside the tale would look in and say, "Fairies." Or possibly "Elves." My plan, inside the story, is that all the characters say, "Ladies." Or, sometimes, "Lords," but all the movers and shakers that our hero and heroines (and assorted others) face in the tale that fall in this group are female. But no one calls them anything else.
I decided it halfway through the outline.
Not that that meant I didn't keep on writing about what the fairies did here or there. I hope I can keep it under better control in the manuscript.