The Fairy and the Waif is a 1915 silent drama film directed by Marie Hubert Frohman and George Irving.

News arrives from Europe that Major Drayton has been killed in battle, and, upon hearing this, Nevinson appropriates Viola's money.

She encounters a homeless waif (Helton) who believes that she is a real fairy, and they shelter in a barrel together until they are found by a policeman.

Meanwhile it transpires that Major Drayton has not been killed; he returns to New York and issues a reward for his lost daughter.

The policeman, recognising Viola from the description accompanying the reward, reunites her with her father, and Major Drayton also takes in the waif.