The Tooth Fairy is a popular figure in children's folklore. When a child loses a baby tooth, they often place it under their pillow at night. The belief is that the Tooth Fairy will visit while the child sleeps, taking the tooth and leaving a small reward, usually money. This tradition is common in many cultures, although the specifics can vary. Some children may receive a note or a small gift instead of money. The Tooth Fairy serves as a comforting way for children to cope with losing their teeth, making the experience more magical and less frightening.