Folk tales are stories that are anonymous; that is, no one knows who created them. They are timeless; that is, when people listen to them or read them, they cannot tell which period of time they were created in. They are often placeless; that is, the story may take place in a forest, but it could be any forest anywhere in the world. Folk tales were originally passed down orally from one generation to the next, but more recently many have been written down, so we can read them as well. Every child likes the bedtime story, Snow White.
Fairy tales are similar to folk tales, except that fairy tales always involve magic, enchantment, and wonder.