The ones we have as pets from the Feralas quest are a subspecies of faerie dragon known as the sprite darter. (So it said in the quest log for that quest. They probably like, decided to change the name to “sprite darter” but then realized that they had to explain why they were called “faerie dragon” in war3. hahaa)
Anyway, in Warcraft III, faerie dragons were a small night elven flying light-ranged anti-spellcaster unit. They had a channeled manaburn spell and were really pretty and make little “jing!” sounds.
And this is my favoritest image of a night elf, ever. http://www.blizzard.com/war3/wallpaper/wallpaper23.shtml … She kicks the WoW-cover-art-night-elf’s ASS. And is so, so very hot.