Similarly to the gods, the lords of the Fae were once humans who became extremly accomplished in fleshforming magic. Unlike the gods however they had no interest in power, leadership or responsibility. Rather they were hedonists who used their power only for their own pleasure, rendering themselves immortal but not entirely unkillable. They very early on created their own realm. The Fae is a world that is forever caught up in a neverending party, over the centuries however increasing boredom has led to entertainments become more and more extreme and the lords of the Fae have long since lost any sort of human empathy. Entertainments vary from simple stories and dance to brutal life or death contests and recreational torture.
The Fae sometimes journey into the human world, taking on any form they chose when they do so, male, female, or animal. Sometimes they do this in order to capture people to bring back with them to serve in the Fae world forever. Those chosen in this way may end up simple entertainers, or fighting for their life against brutal and monsterous creations. Almost no one ever escapes from Fae after they've been captured, and none at all escape after they've been there for more than a week or two.
Sometimes they journey out in order to play pranks on the humans, as a sort of vaccation. These pranks also are very variable, some are incredibly mild, and may even end up helping their target, such as arranging things so that a homeless bum becomes a millionaire overnight. Others can be incredibly cruel. The Fae are masters of manipulating fate, having given themselves a natural magical ability to do so, sorcery that can intelligently manipulate a thousand small variables to bring about a desired result, seemingly simply as a result of luck.
Every now and again the Fae will sleep with a human, this is rarely done for simple pleasure however and never for anything as trite as love. It is almost always part of some prank, sleeping with a man in the form of his wife when she is stuck in traffic and watching the ensuing argument. Or impregnating a young religious girl and wiping from her mind the sexual encounters so she has no explanation for her pregnancy for her parents. The chance of impregnation is low, about one tenth the chance of a human impregnating another but can happen. These offspring and their decendants are called faeborn.