I saw these fairies on a Carol Duvall show. I made them a little different, but you can view the show here.
As you can see by the photos in the attached links, I did not use a wooden bead for the head. I happened to find some doll heads at a discount store that I thought would be perfect, so I used them instead.
Carol's directions call for a wooden flower pot to be the body of the fairy. I used a tiny clay pot as they were much cheaper. The weight doesn't seem to be an issue, but if you want to make sure your fairies are not breakable, then I'd stick with the wooden flower pots. I also did not cover my arms and legs with fabric. I used a giant rose I got at the dollar store (they were 2/$1.00). I think the key is to buy a cheap flower as the pedals will come apart easily.
I currently am hanging them with a chenille stem, but will change that out for some fishing line so it's more invisible. I do not recommend these going outside, but a sheltered area outside that does not get rained on is fine.
This would be a great project for the kids to make on a rainy spring day or a cold winter night.